The budget was approved with 13 votes for, 10 votes against and no abstentions.
SRTv’s allowance from the state budget makes up 31% of its funds, with the remaining 69% to come from the company’s own sources of revenue, including the TV fee and advertising.
Alexandru Lazescu, president of SRTv, talked about its financial recovery strategy, to be implemented starting next year. Under the strategy, SRTv’s staff would be reduced by about 10%, equivalent to a 25% slash in personnel expenses.
Lazescu explained that SRTv has been losing money since 2005, but especially since the start of the economic crisis, which caused losses of EUR10 million from advertising. Other causes were non-lucrative contracts for sport broadcasting, with a single such contract having cost the network around EUR40 million, according to the president.
He added that SRTv has a good relationship with the labor unions representing its employees, and the two sides are in talks to ensure the cost-cutting measures affect as few people as possible.
In 2010, the public TV company posted total revenue of RON571 million and total expenses of RON733 million.
(EUR1=RON4.353)