Prime minister Marcel Ciolacu announced on Friday the extension of the cap on the rates of mandatory civil liability car insurance (RCA) policies until September 30, saying that this measure will prevent the emergence of imbalances in the market.

„I am pleased that the Financial Supervisory Authority (ASF) is officially proposing to extend the RCA rate cap until 30 September 2024. It is a necessary measure to prevent imbalances in the market,” Ciolacu said at the beginning of the Government meeting.

The prime minister also announced an Emergency Ordinance aimed at modernising the Romanian capital market.

„The ASF is also proposing today an Emergency Ordinance aimed at modernising the Romanian capital market. It is an act agreed by the ASF management and the whole industry and the biggest novelty is that SMEs will have for the first time the possibility to finance themselves through the capital market,” mentioned Marcel Ciolacu.

AGERPRES