Romanian Savings Bk CEC To Start Compensation On Dec ‘21

People who deposited money in Romanian savings bank CEC before 1992 for the acquisition of Dacia cars, will receive their money back in one installment, starting with December 21, 2008, economy and finance minister Varujan Vosganian said Monday.

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The change will be approved next week.

"Both rounds of compensation bonds, totaling 760 million lei (EUR1=RON3.6728), were included in the 2007 budget," Vosganian added in a press conference.

Vosaganian also said the money received in compensation is not liable to taxation.

The second round was supposed to be issued on January 21, 2008, but it was also registered for December 2007.

Initially, compensation state bonds were to be issued in two rounds, the first on December 21, 2007, and the second in January 21, 2008.

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