Project: Romania’s Sovereign Fund to include 27 companies

The future Sovereign Fund (FSDI) in Romania will include 27 companies where the state is either a full owner, or holds minority stakes, including Nuclearelectrica, OMV Petrom, Oil Terminal and Telekom Romania Communication, according to the draft project the Finance Ministry launched into public debate yesterday evening. FSDI will take the form of a joint stock financial intermediation company, whose single shareholder will be the Romanian state, reports local Ziarul Financiar. The fund will be classified as a public financial institution outside the state budget, according to Finance Ministry representatives. “We’ve already sent the draft law to the National Statistics Institute (INS), and then it will be sent to Eurostat. This will be the classification at its establishment. Afterwards, during its existence, it must be kept out of the budget so that it can be ranked or reclassified,” Finance Ministry representatives added. If Eurostat reclassifies the fund, in the case of a debt, it falls into the government debt account. The sovereign fund is the special project of PSD leader Liviu Dragnea and has been included in the governing program. Sovereign Investment Fund project to reach Romanian Parliament in September editor@romania-insider.com