Cluj-Napoca considers loans to offset thinner transfers from central budget

Cluj-Napoca City Hall will contract a loan of RON 400 million (EUR 85 million) to finance investments and offset the thinner funds earmarked to the local budget following the Government’s 2019 budget planning, according to

The municipality will borrow the money for a maturity of 30 years, Ziarul Financiar reported.

The municipality saw its revenues dropping by EUR 5 million in the first three months of the year alone because the 2019 state budget hasn’t been adopted yet.


Read more HERE



Leave a Reply

Your email address will not be published. Required fields are marked *

five × 5 =