Central bank governor Mugur Isarescu said Thursday that he could not evaluate the impact of the loan restructuring program, saying that the central bank insisted that the operation would be optional.
Isarescu reminded that the measure was mainly targeted at encouraging consumption, not at reducing non-performing loans.
Romanian Prime Minister Victor Ponta said Thursday that loan restructuring will be optional for both banks and individuals and the measure will probably be applied starting July 1, 2014.
Ponta added the bill regulating loan restructuring schemes will include the terms and conditions agreed upon with the international financial institutions and will be put up for public debate.
Household debt restructuring provides tax reductions, but only after the two-year rescheduling period expires.