The monitored companies include railway operators CFR SA, CFR Marfa and CFR Calatori, road company CNADNR, coal companies CNH and SNLO, postal operator Posta Romana, Bucharest subway operator Metrorex, airline Tarom, chemical plant Oltchim and power producer Termoelectrica. Their arrears dropped in the first nine months of 2011 by 0.3% of the GDP, to 3.8% of the GDP.
In the consolidated budget, debts overdue by more than 90 days amounted to RON928 million at the end of September. Local budget debts made up the largest share of arrears, 88.6%. State budget and social security budget debts accounted for 11.2% of the total arrears.
On a local level, arrears became stable in the second quarter and new amendments to the local public finance law prevent the accrual of new arrears.
(EUR1=RON4.3479)