Both emergency ordinances (OUG) drafted by Romania’s Government to help individuals (employees and bank debtors) and local companies cope with the effects of the coronavirus (Covid-19) pandemic are still subject to last-minute touches before their publishing in the Official Gazette.
OUG 30/2020 will be amended by OUG 32/2020 to address unemployment benefits payments from the budget.
Basically, the firms will get the money needed to pay the technical unemployment benefits to the employees quicker while freelancers or small family businesses will also receive subsidies, according to the amendments.
The whole bureaucracy provisioned under the initial form (OUG 30) was reportedly cut out under the amended ordinance, according to the draft text consulted by Economica.net.
Meanwhile, the Government has also delayed publishing the OUG for bank loan rescheduling in the Official Gazette to bring it some last-minute clarifications, which were set to be discussed in the Government meeting on Monday, March 30, Hotnews.ro informed quoting finance minister Florin Citu. Minister Citu reportedly insists on also allowing those “indirectly” impacted by the crisis to reschedule their loan repayment.
Speaking before the Government meeting on March 30, minister Citu promised that the interest accumulated during the grace period, in the case of the mortgage loans, will not be capitalised (as provisioned under the initial draft of the ordinance) - but he has not explained how or whether this interest would eventually be paid by the bank debtor, state or bank.
Those with payment incidents are allowed to make the payments due as of March 16 so that to qualify for debt rescheduling ordinance, Citu also said.
Romania’s Ministry of Finance intends to first tap the local market for financing, them rely on the International...