The deadline imposed by the ECHR was set to expire on July 12 but the court accepted a nine-month extension, until early April 2013.
The minister said the Government is analyzing ways to amend the law and will initiate public consultations on the topic this fall.
The Government said easrlier this year it was planning to cap the value of compensation at 15% of the property value, payable in tranches in the next ten to twelve years.
The finance minister at that time, Bogdan Dragoi, said this was “all the state can afford,” as Romania would need to spend 70 billion lei (EUR15 billion) to give cash compensations to former owners of nationalized property.