New Bucharest mayor says public transport company near bankruptcy due to debts

Recently elected Bucharest mayor Ciprian Ciucu stressed that debts of over RON 2 billion accumulated over time by the City Hall and its subordinates will have to be resolved in the coming period, or else the city-wide transport company STB will go bankrupt.

A week after taking office, Ciucu publicly presented data showing that the City Hall has debts totaling RON 2.105 billion (EUR 421 million), of which RON 811 million (EUR 162 million) are for transport subsidies, RON 504 million (EUR 101 million) for heating subsidies, RON 470 million (EUR 94 million) for incentives granted in the form of social assistance, and RON 232 million (EUR 46 million) in the debts of subordinate institutions. A further RON 88 million is to be paid to businessman Costică Constanda, who won a lawsuit against the City Hall.