By the end of next week the Ministry of Finance will submit for consideration by the government project to determine changes in interest rates on bank loans, changes to fees collected by financial institutions, including loans to 400 lev within the law. This was announced in the morning on state television by the Deputy Prime Minister Simeon Djankov.
He noted that these issues remain and in the afternoon talks with banks would be held.
He once again stressed that his proposals are clear and obvious European practice.
Djankov explicitly underlined that his main office is entitled to propose such laws and does not need an approval of the banking sector, to make them reality. "We may have differences, but ultimately I want this to happen for the (benefit of) consumers," said Deputy Prime Minister in response to a question what was the biggest difference between his position and that of the bankers in respect of the fees.
For most of the fees that banks made by recipients of loans at the moment, he suggests, or be outlawed, or to be shared between borrower and bank.
"Now you pay someone to calculate the value of assets, which guarantee loans while in most countries, costs are shared approximately 50:50. Bank also has to pay because of the interest received on this loan," said some time ago from the TV back on air the finance minister.
The most debated in the public domain proposal, however, was associated with the introduction of base interest rate, which is the basis for the formation of lihivite loan - EURIBOR or SOFIBOR.
On this topic bankers were convinced that such change is inevitable and it is better to happen now, said Deputy Prime Minister to date.
He said that two weeks supervisory board of the Silver Fund will be ready with amendments in the law for him that will allow money to investors in state or municipal securities, and later in corporate. The Fund should more actively managed, because now the law loses 40-50 million lev because his money without standing interest in BNB. This motivates the idea Djankov again part of the funds be used to repay external debt, whose maturity is January 2013 This, it is more logical than for the purpose to seek foreign loans. He compared the situation to that of a man who has saved money, but instead use them for your needs, keep them under your pillow, and pull credit with high interest. He said opponents of the idea were middlemen who are 40-50 million lev in the form of fees, when Bulgaria enters the market of government debt. What they could to understand what speaking against the idea of Silver Fund money be used for this purpose.
Regarding comments that the fiscal reserve has decreased alarmingly, Djankov explained that this topic appears every January and be sure in April. The reason for this was that because NMS Bulgaria has debt payments in January and also other obligations and money at this time of year there, nowhere else to be taken apart from the fiscal reserve. In this case it is 1.5 billion lev - debt and farm payments. In March, however, the reserve would be returned to its level of about 4.1 billion levs.
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