Romanian state-owned companies see RON 66.5 bln losses between 1994 and 2015

Romanian state-owned companies had total net losses of RON 66.5 billion (EUR 14.6 billion) between 1994 and 2015, of which RON 65.5 billion (EUR 14.4 billion) were generated in the first ten years of that period, according to a study published by Romania’s National Bank (BNR). The net losses represent the overall net result, namely the sum of all profits minus the sum of all losses. The state-owned enterprises are organized in two large groups, namely companies that record very high profits and companies with very large losses, which exceed the earnings recorded by the first group. The BNR document shows that the top 10 profitable companies total 81% of the positive net result of state enterprises. However, the worst ten companies generate about 89% of the losses recorded by the state-owned firms. The sector of the state-owned companies recorded a net positive result in only eight of the 22 years of the analyzed period (1994-2015). editor@romania-insider.com