Restricting Housing Program To New Buildings May Be State Aid – Competition Watchdog

„We advised the government to maintain the current version of the law,” Chiritoiu told a news conference Friday.

The authorities intend to modify the program, which aims to grant state guarantees for mortgage loans to people buying their first home and who did not previously take a mortgage loan, so that new housing construction would be encouraged.

According to the files approved so far, the government guarantees amounted to EUR485million, out of which just EUR16.5 million for homes in various construction stages.

„The purpose of this law should be clearly established, if it targets aids for home acquisition, then the law should remain in its current version, if it targets support for the economy, then we have to find a quick solution that would also be approved by the European Commission,” Chiritoiu said.