Ponta: The debt aid scheme will be applied from July; Petrescu, poor thing, was misunderstood

Newsroom 26/03/2014 | 14:56

The Government’s debt-aid scheme that would effectively cut in half loan rates for low-income citizens will be applied starting July 2014, the prime minister announced.

“It’s meant for this year, starting with July 1st. The minister of Finances explained this fact but it’s so technical that it doesn’t fit in headlines. We can apply that rate cutback since july for a period of two years, the fiscal credit will be applied starting with 2016, after a period of two years. That is what the minister was trying to say but she can’t use simple words for issues that are this complicated. She tries, poor thing, but what can you do, I am the translator”, PM Ponta said.

Ioana Petrescu, the minister of Public Finances, said on Tuesday that the debt aid scheme, commonly known as the “electoRate”, will be applied from 2016, after more discussions with the members of the business community.

“We will implement it but I want to have the banks and the business community involved. The new plan is to help low income individuals in 2016 and we’ve put together a team that will identify any possible problem. If there are people with low income we need to help them to prevent loans from going under. But the measure must be less bureaucratic, we’ve changed Voinea’s formula”, Ioana Petrescu announced.