The capital city hall is borrowing approximately 283 million lei to refinance the local public debt arising from capital payments to be paid in 2024 related to the return of financing contracted directly by the municipality of Bucharest, according to a draft decision approved on Thursday by the General Council. .

The capital city hall has a “reduced” debt – 10.50% for 2023, the legal limit – 30% of own revenues.

• “The need to enter into a contract with one/several internal reimbursable financing for a total amount of up to 283,520,561.86 lei to refinance the local public debt arising from the capital payments due in 2024, related to the reimbursable financing contracted directly by the municipality Bucharest.
• Thus, by concluding a contract with one/several domestic compensatory financings, a flow of liquidity will be ensured, which will ensure the continuity of the investment process for the priority projects of the Municipality of Bucharest, in accordance with the Integrated Strategy for the Urban Development of the capital,” the specialized report says.