The Cabinet approved the regulations concerning the financial monitoring of self-managing public authorities, state-owned enterprises and commercial organizations with complete or majority state capital, IPN reports.

According to Minister of Finance Octavian Armasu, the authorities aim to implement the recommendations of the Court of Auditors and to supplement the process of financial monitoring with new sources of information. It is about reports on the size and circulation of public property and the exercise of the duties by persons empowered to represent the state/territorial-administrative units.

The Public Property Agency will annually furnish the Ministry of Finance with information about the performance indicators in the economic-financial activity of state-owned enterprises and commercial organizations with complete or majority state capital and about the measures taken to alleviate the budgetary-fiscal risks in the activity of these entities. Analytical notes on the monitoring results will be drawn up half-yearly and yearly.

The financial monitoring is aimed at assessing and analyzing the budgetary-fiscal risks related to the economic-financial activity of state-run/municipal enterprises and commercial organizations with complete or majority public capital that can have an effect on the budgetary-fiscal policy.