CFR SA’s debts to the state budget and the risk fund will be written off by special exception from the current legislation on public debt. Penalties for overdue payment make up some RON2.06 billion of the company’s debt of almost RON4 billion.
Considering that CFR SA is the only Romanian company in charge of the railway infrastructure, the Government reasons this write-off does not constitute state aid.
CFR SA is one of the companies monitored by the International Monetary Fund and failure to adopt this decision at once would impede the Government’s progress to achieving the objectives stated in its agreement with the Fund, the bill says.
A similar emergency ordinance was drafted in mid-January this year to write off CFR’s debt, which at that time stood at RON4.5 billion.