Gov’t to adopt E.O. on state guarantees to local authorities accessing community funds

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The government will adopt on Wednesday an Emergency Ordinance under which local authorities will be able to use state guarantees for the development of programs with EU funding, Prime Minister Emil Boc said on Tuesday.

Attending on Tuesday a meeting devoted to the European doctrine of populism, Boc mentioned that the government would make this move. “Tomorrow (on Wednesday – Ed. note) we will approve in the government sitting an ordinance under which local authorities that bring in European money can use government guarantees to pay their co-financing share, for their contribution to European funding,” said Boc.

He also stressed that this year the flat tax will stay at 16 pct in order to encourage the business milieu and foreign investments in Romania. The Premier also highlighted the importance of keeping the VAT unchanged upwardly thanks to the rightist measures reached by the government.
“We defended our stance not to hike the VAT, at a time when Hungary increased this tax from 20 to 25 pct,’ said the leader of the Democratic Liberal Party (PD-L).

Last week, the Prime Minister informed the representatives of several consulting firms specializing in access to European funds that the Ministry of Public Finance had a draft normative underway providing state guarantees to support local authorities that access community funds.

“The Finance Ministry is preparing a legal instrument to support local authorities with the pre-financing or co-financing of European projects by using the instrument of state guarantees, which means that wherever financial resources made available by the authorities are insufficient for covering our share of the project’s co-financing, the instrument of state guarantees will make this possible, thus rising the absorption degree of community funds,” said Boc on February 11.

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