Based on the negotiations, Romania will introduce the VAT payment after invoices are cashed as of 2013 and will postpone the privatization chart of state-run companies. IMF also instructed Romania upon various measures to create new job opportunities and on postponing the co-payment in the medical system.
Also, negotiations equally concluded the wages of public servants paid from state budget funds will be restored, in nominal terms, to the level in 2010.
As for the tax system, the ministry and IMF agreed upon important incentives measures for the business environment and on the development of technological innovations.
Georgescu said the Romanian government has modified the privatization chart for state-run chemical company Oltchim SA (OLT.RO) and announced that will start the proceedings with a sealed-bid auction scheduled for September 14.
Economy Minister Daniel Chitoiu said in turn that Romania has pledged to appoint a private manager to run Electrica Furnizare by end-September. Gas producer Romgaz, natural gas transporter Transgaz (TGN.RO), and natural gas transporter Transgaz (TGN.RO) will also have private managers by yearend, while hydropower generator Hidroelectrica will get private management and will be listed on the Bourse when getting out insolvency procedure.
Romania also changed the privatization chart for the state-run companies and the listing on the Bucharest Bourse. Thus, in September, it plans to sell Transgaz and to list the shares of Complexul Energetic Oltenia and Complexul Energetic Hunedoara. Electrica Distributie is scheduled for listing in 2013.
On the other hand, Ministry of Transportation plans to sell railway freight carrier CFR Marfa by December.
Romania is willing to sell the majority stake in national airline operator Tarom unless the current 20% stake sale offer is unattractive.
A joint delegation of the International Monetary Fund, the European Commission and the World Bank is visiting to Romania until August 13.