National Company of Motorways and National Roads may get EUR 1.8 billion for projects

The Ministry of Transportation has announced it will ask the Government to increase the budget assigned to the Romanian National Company of Motorways and National Roads (CNADNR) by 26 percent, to reach some RON 7.6 billion

October 2011 - From the Print Edition

According to a bill drafted by the Ministry, the projects targeted for financing are the two highway projects, Transylvania and Bucharest-Ploiesti. At the same time, according to the letter of intent signed with the IMF, the CNADNR budget has been boosted by EUR 8.3 million for the extension of the road tax informatics system in Romania. As a result, the company will have revenues of RON 1.6 billion this year, while expenses could reach a similar sum, slightly up on the previous estimates of RON 1.59 billion. Last month, the Romanian Government carried out its first budget adjustment of the year, with more money being awarded to the Ministry of Transport and Ministry of Agriculture. The sums were allocated in response to positive news from the economy, with a 1.5 percent increase estimated for this year. The general consolidated budget execution is RON 11.3 billion, representing 2.07 percent of GDP, below the RON 12.6 billion limit agreed with the International Monetary Fund, World Bank and European Commission. The Ministry of Transport received an additional RON 1.69 billion, while the Ministry of Agriculture was given RON 910 million.