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Moldovan MPs vote for aprogation of ''one-billion law''

15:26 | 23.04.2021 Category: Economic

Chisinau, 23 April /MOLDPRES/ - A draft law on the abrogation of the Law No 235 from 3 October 2016 on the issuance of the payment bonds coming from the state guarantees from 17 November 2014 and from 1 April 2015 (One-billion Law) was voted in the second reading today.    

The head of the parliament’s commission for economy, budget and finances, Petru Burduja, said that, when the law on the issuance of payment bonds coming from state guarantees had been adopted, its possible consequences were not taken into account. ‘’The sum of the bonds increases, reducing the government’s possibilities from the budgetary viewpoint to implement social and economic projects. Moreover, this is a tendency of increasing the state debt and, more serious, a way through which this burden was transferred to the state budget, i.e. on the citizens,’’ Burduja said.     

On 16 December 2020, a similar law was adopted, which provides for the abrogation of the Law No 235 from 3 October 2016 on the issuance of the payment bonds coming from the state. The law was appealed by two MPs at the Constitutional Court, which declared the law unconstitutional on 18 March 2021.    

The law from 3 October 2016 on the issuance of state bonds for the fulfillment by the Finance Ministry of the payment obligations coming from state guarantees No 807 from 17 November 2014 and No 101 from 1 April 2015 sees the issuance of state bonds at nominal value, at a fixed interest rate for terms of up to 25 years, in a total amount of 13,583,717,000 l lei, with the effective interest rate of 5 per cent.     

photo: Parliament

 

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