Romania’s state companies post EUR 1.4 billion profits

Romania recorded 1,668 state-owned firms last year, according to the companies’ activity report for 2016. Some 287 of them were subordinate to central authorities whereas 1,381 were run by local authorities. Some 143 state-owned firms saw a cumulated gross profit of RON 6.7 billion (EUR 1.4 billion) last year whereas 58 companies recorded total losses of almost RON 1.5 billion (EUR 321.7 million). These companies paid dividends worth over RON 3 billion (EUR 662.4 million) to the state budget. Their total debts reached RON 21.4 billion (EUR 4.6 billion). In 2016, the state had total shares worth RON 28.5 billion (EUR 6.1 billion) in state-owned firms. Almost 196,000 people worked in state-owned companies last year. editor@romania-insider.com