Government wants to reform state-owned companies

The government aims to reform state-owned companies by operationalising the Agency for Monitoring and Evaluation of the Performance of Public Enterprises. Romania has the largest number of state-owned companies in Europe, four times the European average, but too few are listed on the Bucharest Stock Exchange.

Adrian Tutuianu, deputy secretary-general of the government, says we could have better-run state-owned companies and higher budget revenues once the Agency for Monitoring and Evaluation of the Performance of Public Enterprises becomes operational.

"The Public Enterprise Monitoring Agency needs to be operationalised as soon as possible, and I understand that this will happen next week. And from that moment on we will start doing what we have set out in the new regulatory framework, i.e. starting selection procedures, carrying out these selection procedures transparently, selecting administrators who are professionals, with a four-year mandate, with financial and non-financial performance indicators and who will lead us to the result we expect: a stronger economy, better managed state-owned enterprises, higher revenues to the state budget", explained Adrian Tutuianu.

Adrian Tutuianu also said that, according to OECD reports, public enterprises do not contribute enough to Romania's GDP and to the increase in state revenues.

Translated by: Radu Matei