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Two state-owned companies likely to swell Romania's budgetary gap

Autor: Mihaela Claudia Medrega

27.04.2011, 23:37 27

CFR Infrastructură and Termoelectrica, state-owned companieswith spectacular historic losses, are at the centre of the scandalgenerated by the reservations the EU voiced about the calculationof Romania's 2010 budgetary deficit and public debt, with FinanceMinister Gheorghe Ialomiţianu discovering on this occasion that therespective companies have not even filed in their financialstatements for 2007-2008.

Sources that attended yesterday's Government session toldMediafax that Ialomiţianu had told the premier he held "veryserious" information according to which the 2007 and 2008 budgetsof the two companies had not been approved by the Government.

Eurostat, the statistical arm of the European Commission, onTuesday announced it had doubts about the figures referring toRomania's 2010 budgetary gap, quoting uncertainties linked to theimpact of including the financial situations of some publiccompanies in the budgetary gap calculation in line with the ESA 95European methodology. The real gap is likely to widen from 6.4% to6.9% in GDP.

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