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Friday, April 29, 2005
Romania's state-owned mining companies will receive total state aid worth 115 million euro
The Romanian Ministry of Economy and Commerce, in partnership with the Ministry of Public Finance, have approved a package giving 115 million euro state assistance to the mining industry. This will involve the exemption of 11 state-owned mining companies from financial obligations, of contributing to the state budget, worth 115 million euro. The largest tax exemptions were awarded to the Oltenia National Lignite Company, with 47.4 million euro and to the National Coal Company in Petroşani (38.3 million euro). The exemption took effect on April 26.
State aid to several industries, especially mining and steelworking, is expected to decline in the coming years, as the European Union has told Romania that it needs to stop subsidising loss-making industries in order to be able to fully integrate into the European Union common market. Additionally, Romania's new Justice and Truth (Liberal-Democrat) governing coalition is keen on further liberalising Romania's free-market economy, by greater privatisation, fiscal liberalisation and a reduction in state aid.
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This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.
Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.
Note that some listed sources or external links may no longer be available online due to age.
