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FinMin Teodorovici: Interest on credits granted through government programs, to be calculated using reference index

The Government adopted on Thursday's sitting a decision stipulating that the reference index will be used instead of ROBOR (Romanian Interbank Offered Rate) for the interest calculated on loans granted through state guaranteed government programs, Finance Minister Eugen Teodorovici announced.

"A government decision has been adopted to amend the legislation specific to state guaranteed government programs aimed at clarifying the way the provisions of OUG 19/2019 are to be applied. This is a necessary measure that will reduce the financing costs of loans granted through the government programs "First House", "First Car" and "Invest in Yourself", the successful programs that Romanians have been very interested in. Thus, for the interest rate calculated on the loans granted through these government programs, the reference index will be used to replace ROBOR. The benchmark was introduced to reduce the financing costs of the loans taken by citizens and to increase transparency in how interest rates are calculated," Teodorovici said at Victoria Palace after the government sitting.

He added that the program "A House, a Family" could be adopted by the Government in the first half of June.