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Romanian SMEs Min To Discuss “First House” Program”, Interests Still High

Romanian SMEs minister Constantin Nita Tuesday will have public talks with the factors interested in the “First House” program, as the interests are still very high, deputy Prime Minister Dan Nica said Monday.
Romanian SMEs Min To Discuss “First House” Program”, Interests Still High
25 mai 2009, 13:48, English

"We have so far solved an issue related to reducing or eliminating risks for those who contract the loans. There are still several issues left. As the interests are still very high, tomorrow, minister Nita will have public talks with the factors interested, in order to identify this set of supplementary measures so that this program would have the effect and the amplitude we target," Nica stated.

Nica added that the talks with banks on the issue have not started yet.

Romania Prime Minister Emil Boc Wednesday said that the loans contracted for the purchase of the first home will be guaranteed by the state, within the maximum limit of EUR60,000, with the entire financing granted to this program reaching EUR1 billion.

According to the representatives of real estate agencies, developers and construction companies, the state guarantee of the loans for buying the first home may stimulate the real estate and constructions market, but the result depends on how the program will be applied and on banks’ reactions.