Primaria Bucuresti va imprumuta 100 de milioane de euro de la Guvern
Source: Financiarul.ro
New Financial Measures for Local Authorities
The government has introduced a regulatory framework enabling municipalities to secure loans from the Treasury. Notably, the Bucharest municipality plans to take out a loan amounting to 462 million lei, which will be repayable over a span of 20 years. This funding is essential for settling outstanding subsidies related to thermal energy.
Loan Details and Purpose
This loan will be structured for a 20-year term, featuring equal quarterly repayments and a variable interest rate linked to the ROBOR index. The primary objective is to facilitate the payment of overdue subsidies for thermal energy supplied to residents. This necessity arises from a continuous decline in revenue from allocated shares of the general budget, which has hindered the municipality’s ability to fulfill its financial obligations to RADET for heating services.
Government Initiatives to Address Financial Shortfalls
Recently, the government enacted an emergency ordinance allowing local authorities to access additional loans from privatization funds held by the State Treasury, with a cap of 700 million lei and a repayment period of up to 20 years. This measure aims to help municipalities clear their outstanding subsidy payments for residential heating.
Immediate Solutions for Heating System Challenges
This approach appears to be the only viable solution identified by officials to address the short-term financial crisis affecting Bucharest’s heating system. The situation regarding thermal energy supply in the capital is precarious, as the municipality has yet to pay the subsidy for January’s energy consumption, which amounts to approximately 120 million lei. If this issue remains unresolved, the thermal energy producer, Elcen, may be unable to settle its next gas bill with Romgaz, leading to a potential halt in gas supply and, consequently, a disruption in heating services across Bucharest.
Source: Wall-Street.ro
