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April 15, 2021

PSD owes approximately EUR 1 M

However, electing the leader of the Socialist Group is not the Social-Democrats’ only problem. It seems the financial crisis is leaving its mark: PSD’s debt totals approximately EUR 1 M. Liviu Dragnea, the party’s secretary general, claims that the party has started to cut salaries and to severely ration expenditures. “It will be a fairly healthy restructuring. There are two main reasons: each employee’s competencies and the funds at our disposal. PSD can no longer afford to keep going like it did in recent years, to pay salaries and utilities whether we have the money or not, because we’ve only managed to hike our debt a lot,” Dragnea stated, being quoted by Mediafax. According to Social-Democrat sources, the party’s central headquarters alone has accumulated a debt of approximately RON 300,000, while the debt of the party headquarters located in Antena Street number 5, where the ‘Ovidiu Sincai’ Institute used to work and where Ion Iliescu’s office still is, has reached RON 230,000.

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