Romania’s top five debtors have culminated RON 5.514bn (€1.2bn) in state debt as of late September, according to data released by the National Tax Administration Agency.
The National Railway Company (CFR) has RON 2.5bn in debt, followed by the National Black Coal Company with RON 1.8bn in debt. Galaxy Tobacco ranks third with a debt of RON 539.6m. The company was granted refinancing.
The Romanian Railway Freight Company, which is under foreclosure, owes RON 394.2m in state debt, while European Food owes RON 197.08m to the state. The company is also under foreclosure.
