The profitability of the Romanian non-financial companies, both in the state-owned and private sectors, has improved in 2020 - but the improvement was driven by the massive measures to support the economy adopted by the state, according to an analysis carried out by the Fiscal Council, quoted by Ziarul Financiar.

Thus, the state-owned companies reported an aggregate net loss of RON 1.8 bln in 2019, but a total net profit of RON 900 mln in 2020.

"It is worth mentioning that, although the gross value added at the level of the whole economy saw positive dynamics, it was supported by the value-added created by the private sector, because the contribution of the state-owned companies decreased by 9.2%," shows the Fiscal Council.

Moreover, the share of gross value added generated by state-owned companies in the total economy decreased from 8.9% in 2019 to 8.1% in 2020.

In terms of revenues, the state-owned companies accounted for only 3.1% in 2020, compared to 3.4% in 2019.

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andrei@romania-insider.com