Romanian companies that deferred their payments to the state budget during the coronavirus crisis, under a facility extended by the Government, must pay the deferred amounts by October 25.

According to a Finance Ministry's estimate dating from July, the deferred payments account for RON 12.5 billion (EUR 2.5 billion or 1.25% of GDP).

Under the latest budget revision, the Government hopes to get at least RON 7 bln (EUR 1.4 bln, or 0.7% of GDP) out of this by the end of the year.

The Finance Ministry ponders taking a "friendly" approach by rescheduling or restructuring the companies' debts, finance minister Florin Citu announced.

A final decision hasn't been taken yet, but the Government doesn't want to further defer the deadline by a month or two, according to Profit.ro.

In March, Romania's Government decided that local companies can postpone the payment of their tax obligations without the risk of forced executions and without accumulating interests or penalties, amid the economic crisis caused by the coronavirus epidemic. The initial deadline for the payment was June 25, but the Government then extended it until October 25.

(Photo: Sarinya Pinngam/ Dreamstime)

iulian@romania-insider.com