“In IMF’s opinion, the program will increase lending and consumption,” Ponta told a news conference.
Monday evening, Ponta said the government and the IMF 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.
“The state-guaranteed loan is designed to cover potential higher interest rates during the two-year period of lower installments,” Ponta said Monday. “The condition is that the debtor has a monthly income lower or equal to the average monthly salary and that their loans are no more than 90 days overdue.”
The stimulus package is optional and the government is yet to announce an agreement with a local bank.