The Senate, meeting in extraordinary session on Tuesday, was informed about the draft law on the approval of Emergency Ordinance No. 101/2024 on public debt.

The draft, adopted by the Government on August 21, was assigned by the Standing Bureau for debate to the specialist standing committees.

According to the explanatory memorandum, the draft law aims, among other things, to ensure the urgent need for military capabilities by identifying and diversifying the instruments for financing the acquisition of military technology and military equipment.

The legislative proposal also aims to make the costs associated with the government securities dedicated to the population distributed through the Romanian National Postal Company (CNPR) more flexible in the case of financing from the domestic market, including by making the policy of collaboration with CNPR more flexible and by attracting new resources to expand the investor base and simplify the technical solutions for selling Tezaur government securities.

The draft normative act stipulates, at the same time, that in the absence of immediate measures to amend the legislation on public debt, the Government will not be able to meet the deadline of September 30, 2024 for signing the financing agreement with the US Government and, as a result, will not be able to access funds under the Foreign Military Financing, with an impact on the costs of procurement contracts already concluded by the Ministry of National Defence.

The Senate is the first Chamber notified on this draft.

AGERPRES