Romanian Bks To Resume Corporate Lending In 2-3 Weeks – Fiscal Agency Official

"It would be best if banks resumed lending. In two or three weeks at most, I think banks will resume financing. The banking system is not in trouble, but it still took precautions. From what I understand, lending has been put on hold,” Chitoiu said.

He said companies need to continue activity, but fiscal credit would be very expensive right now, and the fiscal agency’s IT system entails immediate foreclosure for companies with unpaid dues.

"If they don’t have liquidity, that’s a big problem. With the current IT system you block them (the debtors – e.n.) immediately, but our interest is to let them continue activity and pay taxes,” Chitoiu said.

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He added revenues to the state budget are on schedule, and if tax collections in the fourth quarter are as good as they have been so far, revenues will rise to 35% of gross domestic product by yearend, and the inclusion of EU funds will take revenues to 38% of GDP.