“At a first glance, the measure will have a positive impact on a large category of population, but this doesn’t make it fair, considering that the government uses budget resources to the benefit of a single social category,” said Cristian Parvan, AOAR general secretary.
He said the new measures would work in the lenders’ advantage, as banks will book fewer provisions for bad loans and therefore will post bigger profits.
“Besides, the government should also tell the rest of the taxpayers how much this measure would cost them and what the immediate benefits are,” said Gabriel Biris, vice-president of AOAR.
Romanian Prime Minister Victor Ponta said Monday that the government and the International Monetary Fund have agreed on a package of measures aimed to support domestic consumption.
The measures offer fiscal discounts for bank debtors with low and medium income and allow them to reschedule their loans for up to two years. During that period, the debtor’s monthly installments on the principal loan can be reduced by up to half.
Around 1 million bank debtors are expected to be able to reschedule their loans under the scheme, according to government’s estimates.