“Even if arrears were reduced by half, their impact on companies is stronger than in 2008, when banks offered loans,” said FPSC president Cristian Erbasu at the conference Romania Construct Forum, organized Thursday by MEDIAFAX.
Overdue debts to constructors delay underway projects and affect not only construction firms, but also construction material producers, transporters and service providers, Erbasu pointed out.
According to the source, the total value of state arrears to constructor is two or three times higher than the level announced officially.
Development Ministry state secretary Eugen Curteanu said the institution will try to pay a large part of the 1.09 billion lei (EUR251 million) debt amassed over the past years.
Of the total arrears of the ministry, RON450 million were generated in the road infrastructure sector, RON414 million by sewage system programs and RON151 million by water supply programs.
The institution’s draft 2012 budget states funds amounting to RON3.45 billion, of which 88.47% allotted from the state budget, 7.42% represents non-reimbursable foreign funds and 4.11% represents revenues from its own sources. (EUR1=RON4.3429)