An economic and financial analysis of municipal waste management in Romania

The authors propose a comparative approach of the municipal waste management system' performances in Romania. On the one hand, we intend to highlight the poor results of the municipal waste management, at national and regional levels. On the other hand, we aim to analyze the economic and financial performances of the sanitation companies. In this regard, a series of indicators such as the net profit margin and the economic rate of return are selected. The analysis is effectuated on two Romanian representative development regions: North-East and Bucharest-Ilfov. The objective of the paper is to assess if the non-compliance to the standards imposed by the European Union in the municipal waste management domain is reflected, or not, in economic and financial results of the sanitation companies.