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Law No. 19 Of 26 February 1991

Original Language Title:  LEGE nr. 19 din 26 februarie 1991

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LEGE No. 19 of 26 February 1991 on the coverage of losses recorded by state enterprises from the activity of 1982-1988 and partially of 1989, as well as the financial regularization of some expenses left unregulated on December 31, 1989
ISSUER PARLIAMENT
Published in OFFICIAL MONITOR NO. 41 of 1 March 1991



The Romanian Parliament adopts this law + Article 1 The obligation to refund the state loans granted on the basis of decrees no. 449/1984 449/1984 and No. 252/1985, for the losses recorded by some state enterprises from the activity of 1982-1984, in the amount of 36.7 billion lei, according to Annex no. 1. + Article 2 The financial coverage of losses recorded by state enterprises is approved, in the amount of 182.5 billion lei, of which: 140.3 billion lei from the activity of 1985-1988 and 42.2 billion lei some of the losses related to 1989, according to Annex No 1. + Article 3 The financial regularization of some expenses left unregulated on December 31, 1989, in the amount of 19.6 billion lei, according to Annex no. 2. + Article 4 Resources for covering losses and expenses referred to in art. 1-3, in the total amount of 238,8 billion lei, consisting of the budget surpluses of previous years, the amounts reserved from the budget for financial regularizations and other financial resources of the state are provided in Annex no. 3. + Article 5 The use of availabilities to the reserve fund for circulating means and other funds constituted at the level of ministries is approved, in order to cover the losses recorded by the state economic units in 1989. + Article 6 Until the losses recorded by the state enterprises from the activity of 1989 and remained uncovered, the banks are authorized to credit the units in question with the interest of 0.5 percent. The same level of interest also applies in the refinancing relations between the National Bank of Romania and the other banks, for the respective loans. This law was adopted by the Assembly of Deputies at its meeting on 12 February 1991. PRESIDENT OF THE ASSEMBLY MARTIAN DAN This law was passed by the Senate at its meeting on February 19, 1991. SENATE PRESIDENT academician ALEXANDRU BIRLADEANU Pursuant to art. 82 lit. m) of Decree-Law no. 92/1990 for the election of the Parliament and of the President of Romania, we promulgate the Law on the coverage of losses registered by state enterprises from the activity of 1982-1988 and partially of 1989, as well as regularization financial of some expenses left unregulated on December 31, 1989, and we have its publication in the Official Gazette of Romania. ROMANIAN PRESIDENT ION ILIESCU + Annex 1 SITUATION financial coverage of losses of state enterprises from 1982 to 1988 and partially of those of 1989 -million lei-Losses from 1982-1984Losses from 1985-1988Losses of the year 1989Total losses covered TOTAL36.668, 7140.269, 342.251, 3219.189, 3 of this: Ministry of Resources and Industry of which: -Department of Electricity and Termice3.036, 610.921.07.478, 321.435, 9-Department of Mines5.344, 817.045,012.783, 635.173, 4-Department of Petrol.76,45.338,02.205,07.619, 4-Department of Chemical Industry and petrochemicals 4.426, 120.650, 2-25.076, 3-Metallurgical industry department 791,56.900,0171, 87.863, 3-Construction industry department of masini890 ,62.703, 0-3.593, 6-Department of Wood Industry 878 ,0892, 0-1.770, 0-Industry Department textiles and leather 131,5258,0-389.5-Department of geology -- 6,76.7- Department of electrotechnical, electronic, fine mechanics and machine-machines105,827,0-132.8 Ministry of Public Works, Transport and Spatial Planning of which:-Department of construction and works publice629 ,4594, 0-1.223, 4-Department of transports56,7682,030,3769,0 Ministry of Environment -- 14,314,3 Ministry of Agriculture and Food of which: -Department of agriculture stat10.132, 941.621, 42.400, 254.154, 5-Economic general direction for mechanization of agriculture 6.344, 317.587, 17.698,031.609, 4-General economic direction of land improvement and construction in agricultura97,22.214, 33.625,05.936, 5-Economic Directorate-General for Horticulturers535,63.011, 62.309, 75.856, 9-Direct Units subordinate1.000, 23.366,51.938, 46.305, 1-Department of Food Industry 1.958, 95.516, 1-7.475, 0-Academy of Sciences Agricultural and Forestry-7,1-7,1 Other units-187,0-187,0 Economy locala232,2768,01.590,02.590, 2 + Annex 2 SITUATION financial coverage of expenditure remaining unregulated on 31 December 1989 -million lei-TOTAL EXPENDITURE COVERED 19.570, 7 of which: 1. The expenses of capital repairs carried out between 1987 and 1989 of bank credits by units in the electricity industry 11.519, 2 2. Reimbursement of loans received for investments by the former Ministry of Industrial Construction (Undertaking of heavy machinery and transport for construction abroad) which were used for the purchase of machinery used on construction sites abroad, returned to the country and which were transferred without payment to other units or cased, without recovery of the related depreciation, under the conditions of legii1.110, 5 3. The remaining amounts not settled from the operations of our country with the International Monetary Fund, related to the cota1.246, 1 4. The equivalent in lei of the currency used by the Romanian Foreign Trade Bank for the compensation of special drawing rights necessary to reconstruct them at the level of allowances made by the International Monetary Fund for our country. Unfavorable course differences at the Investment Bank and the Food Industry and Agriculture Bank resulting from the reassessment of credits received from the International Bank for Reconstruction and Disvoltation4.068, 4 6. Unpaid debts of theatre units, musical institutions and museums 126.5 + Annex 3 SITUATION resources to cover losses incurred by SOEs and financial regularisation of expenditure remaining unregulated on 31 December 1989 -million lei-TOTAL RESURSE238.760, 0 of which: 1. Excetions of the Republican budget of 1989 and older *) 136.664, 6 2. Amounts reserved from the state budget revenues from which state loans were granted to cover losses of circulating means from the activity of 1982-1984, according to decrees no. 449/1984 449/1984 and No. 252/1985, as well as for carrying out financial regularisations 64.028, 3 3. Surpluses of local budgets at the end of 1989, including the bearing fund of previous years. Cash availabilities resulting from the recovery of some stocks from the reserve of stat10.985, 9 5. Favorable differences from revaluation of precious metals, according to Decree no. 154/ 19889.746, 1 6. Availabilities representing the value in lei of the currency collected from the Ministry of Interne6.348, 1 7. Other financial resources of the state identified as available (favorable differences from revaluation of assets and liabilities in foreign currency to B.R.C.E., available at the reserve fund for circulating means and other funds constituted at the level ministries, etc.) ------------------------