PM Ciolacu: I am glad Parliament voted to cap interest rates on non-bank loans

PM Ciolacu: I am glad Parliament voted to cap interest rates on non-bank loans

Politics

Prime Minister Marcel Ciolacu welcomed on Thursday the promulgation of a law capping markups on basic food products and Parliament adopting a cap on the interest rates charged by non-banking financial institutions (NBFIs), saying that wherever price gauging occurs, the government steps in to regulate, CE Report quotes Agerpres

"I am glad that yesterday an extension through the end of the year of capping markups on basic foods was approved, and Parliament voted to cap those greedy interest rates on loans, such as the 20,000% charged for so long by non-banking financial institutions," Ciolacu said at the beginning of a government meeting.

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