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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

EC might disburse pre-financing under Recovery and Resilience Plan “before summer”

The European Commission (EC) might disburse 13% of the total sums earmarked under the Next Generation plan (NGEU) in the first half of this year. Thus, Romania could get the pre-financing for the National Restructuring and Resilience Plans "before the summer," according to a statement of the Finance Ministry, News.ro reported.

Finance minister Alexandru Nazare had a talk on this topic with EU Commissioner for budget Johannes Hahn.

However, before the disbursement, the member states must ratify the EC's Own Resources Decision (ORD) for 2021-2027, which is the legal basis for the EU budget's revenue sources. Moreover, the new ORD will constitute the legal basis authorizing funds to be borrowed on the financial markets to finance the Next Generation EU Recovery Instrument (NGEU).

Given the unusually high level of the EU budget plus NGEU - , EUR 1.8 trillion, new own resources will be levied.

The Council will adopt the decision on ORD by unanimity after consulting the European Parliament.

Before entering into force together with the new multiannual financial framework (the EU-level budget, MFF), the ORD needs to be ratified by all member states' parliaments.

andrei@romania-insider.com

(Photo source: Dreamstime.com)

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

EC might disburse pre-financing under Recovery and Resilience Plan “before summer”

The European Commission (EC) might disburse 13% of the total sums earmarked under the Next Generation plan (NGEU) in the first half of this year. Thus, Romania could get the pre-financing for the National Restructuring and Resilience Plans "before the summer," according to a statement of the Finance Ministry, News.ro reported.

Finance minister Alexandru Nazare had a talk on this topic with EU Commissioner for budget Johannes Hahn.

However, before the disbursement, the member states must ratify the EC's Own Resources Decision (ORD) for 2021-2027, which is the legal basis for the EU budget's revenue sources. Moreover, the new ORD will constitute the legal basis authorizing funds to be borrowed on the financial markets to finance the Next Generation EU Recovery Instrument (NGEU).

Given the unusually high level of the EU budget plus NGEU - , EUR 1.8 trillion, new own resources will be levied.

The Council will adopt the decision on ORD by unanimity after consulting the European Parliament.

Before entering into force together with the new multiannual financial framework (the EU-level budget, MFF), the ORD needs to be ratified by all member states' parliaments.

andrei@romania-insider.com

(Photo source: Dreamstime.com)

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