Romania’s State-Firms Must Cede 85% of Profit, Mediafax Says

Romania’s state-owned companies must transfer 85 percent of their profits to the state budget next year, Mediafax reported today, citing Finance Minister Gheorghe Ialomitianu.

The country’s government approved a memorandum that lowered the percentage from the profit of state-owned firms which must be transferred to the state budget from the current 90 percent, according to the Bucharest-based news service.

Romania will not increase taxes in 2012, Ialomitianu also said, according to Mediafax.

To contact the reporter on this story: Andra Timu in Bucharest at

To contact the editor responsible for this story: James M. Gomez at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.