Gov’t approves memorandum requesting state companies to cut down overdue payments by at least 20pc

The government approved during the sitting on Thursday a memorandum containing a series of measures on financial discipline for companies where the state is shareholder. According to the memorandum, state companies should consider in budgeting the revenues and expenses for 2017 a cut of overdue payments by at least 20%, hotnews.ro informs.

It’s about the companies under Government Ordinance no. 26/2013 on financial discipline at the level of economic operators where the state or administrative-territorial units are majority or sole shareholders, or hold directly or indirectly a major stake.

Overdue payments cut:

• By at least 20% as compared to December 31, 2016 by the companies which were within the established level of outstanding payments from the income and expenditure budget approved for 2016 by law;
• By at least 20% against December 31, 2016 by the companies which didn’t meet the established level of outstanding payments from the income and expenditure budget approved for 2016;
• To eliminate outstanding payments registered by companies which did not have the income and expenditure budget for 2016 approved.

Also, the central public administration can approve the reduction or elimination of overdue payments to companies under its authority, under its coordination, under the authority or in their portfolio by other percentages, so that the cuts in the aggregate outstanding payments for these operators comply with the mentioned percentage.

Exceeding the limit of aggregate overdue payments, set by the central public administration, can be carried out in duly justified cases with approval by the Government through a Memorandum.