Romania's Government to abrogate law banning the sale of state assets

Romania's new Government wants to abrogate Law 173/2020, passed by the Social Democratic Party (PSD) in 2019, which bans for a period of the years the sale of shares held by the state in national companies and corporations, banks, and any other entity in which the state has the status of shareholder.

"We will repeal that law. It will again be possible to sell shares and assets. It is not a matter of selling the shares, but of attracting capital in Romania, of capitalizing these companies. We don't have the resources to capitalize on all these companies and cover their investment and growth needs. We are giving up stakes in exchange for capital. This is happening all over the world," said prime minister Florin Citu, speaking for Radio Guerilla, Ziarul Financiar reported.

A draft law in this sense was published for debates on the website of the Economy Ministry's website, prompting harsh reactions from the Social Democrats.

PSD leader Marcel Ciolacu said that PM Citu wants to sell "for nothing" the strongest and most profitable state companies and that his party will do everything in its power to prevent this.

(Photo source: Gov.ro)