ZF: Florin Georgescu defends the ‘ElectoRate’ harshly criticised by Basescu

Florin Georgescu, First Vice-Governor of BNR, the person pinpointed by President Traian Basescu as one of the artisans of the ‘ElectoRate,’ a fiscal scheme aimed at restructuring loans given to the general population, defends this measure, which in his opinion could invigorate lending activities and support consumption and economic growth. “In my opinion, lending activities in the population segment can be re-launched at present by refinancing used as an increase mechanism that bears no negative consequences on available incomes. If refinancing was sometimes used during the economic boom, refinancing particular expenses is a stringent necessity at the moment in many cases, now that we are recovering from the crisis. What we need is ‘necessity refinancing’,” Florin Georgescu noted in a written opinion sent to ‘Ziarul Financiar’.

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