70% of economic growth in first three quarters of 2018, obtained by stocks increase. Foreign exchanges pulled down GDP by 1.6 percentage points
INS recalculated GDP in the third quarter and the first three quarters of the year. Here are the growth data for the Romanian economy, updated… Mai mult›
The estimates by economists of most important banks in Romania on the depreciation of the local currency for this year range between 4.73 and 4.77… Mai mult›
Final energy consumption of Romanian industry declined by about 75% between 1990 and 2016, compared to only 25% at the EU level, according to data… Mai mult›
Crash signal in foreign trade – export coverage ratio has fallen to 2011 level. And we do not import robots
The trade deficit on November 2018 was EUR 1.567 billion, the second worst monthly performance registered last year. Worryingly, the growth rate of exports compared… Mai mult›
The Romanian mergers and acquisitions market reached nearly EUR 2 billion in 2018, according to a Deloitte Romania analysis based on public sources and transactions… Mai mult›
de Razvan Diaconu , 14.5.2018
The law from 2016 remained inapplicable because “ implementing rules to which it refers have not been adopted“, writes in the explanatory for this legislation approved on Thursday.
In December last year, Tudose government also approved an ordinance with the same subject, also without an explanatory memorandum.
According to the Government, the objective of a PPP type of association is to achieve or, depending on the case, rehabilitate and/or expand a good or some goods that will belong to the patrimony of the public partner.
In the new legal provisions, the term PPP “project” has been replaced by “contract”, “to remove the legal uncertainty.”
For the same purpose, “it has been stated in several provisions that granting certain categories of rights to the private partner or the project company under the public-private partnership contract will not involve a new award procedure.”
Additions to and modifications refer to:
- Regulating the possibility to develop under PPP projects that involve exclusively the operation of a public service
- Clarification of the concept of financial closure (the date when all condition precedents have been met for the entry into force of the financiers’ obligation to provide the funds needed to finance the PPP contract)
- restricting the public partner’s participation with public funds in the investment phase to 25% of the investment to give priority to attracting private funds for implementing public investment, representing financial resources other than non-reimbursable external funds and the national contribution corresponding to such funds
- the creation within one year of a special Fund for financing PPP contracts that fall under the category of strategic projects
- the special financing fund will consist of public revenue from tax and non-fiscal financial resources, including subsidies, provided for by the special law on the establishment of the special fund
- removing regulatory overlaps with the law on public procurement and concessions made following the adoption of OUG 104/2017 for amending and supplementing Law 233/2016 on PPP, according to the explanatory memoranda.
Also, among the main elements of PPP, we can also note:
- the duration of at least 5 years of contractual relationships, allowing the private partner to recover the investment and obtain a “reasonable profit”
- the pooling of private with public funds or, where applicable, risk sharing between the public and the private partner depending on the ability of each signing party to assess, manage and control a particular risk.
- the public partner will be able to transmit or establish, in favour of the project company, the right to collect and use tariffs from the users of the products/products or public service that form the object of the public-private partnership contract.
- The duration of the public-private partnership contract is determined mainly by the depreciation period of the investments to be made by the project company and depending on the way these investments are financed.
- The duration shall be established so that:
- to avoid artificially restricting the competition
- to ensure a reasonable profit for the respective field following the exploitation of the good/goods and the operation of the public service that forms the object of the project
- to ensure a reasonable and affordable price for the services that form the object of the project, to be paid by the beneficiaries of the services.
The steps required to conclude and start fulfilling the obligations of a PPP contract are:
- drafting a substantiation study by the public partner;
- approving the substantiation study by the Government for central public administration projects or, where applicable, by the deliberative authorities for local government projects;
- the procedure for awarding the public-private partnership contract;
- the approval of the public-private partnership contract that results from the finalization of the negotiations and initialized by the government for the projects of the central public administration, or, where applicable, by the deliberative authorities, for projects of the local public administration;
- the signing of the public-private partnership contract;
- the fulfilment of all the condition precedent stipulated in the public-private partnership contract, including the financial closure.
The public partner has the obligation to send to the National Institute of Statistics, within 30 days since signing, a copy corresponding to the original of the public-private partnership contract.The Government may decide that certain projects that it considers strategic will be prepared and awarded on behalf of the public partners that are to implement them, by the National Commission for Strategy and Prognosis.
The initiative to implement a public-private partnership project belongs to the public partner.
Lăsați un comentariu
Mugur Isarescu: "Ordinance weird thing" reduces monetary policy efficiency, which will not help Government
The National Bank of Romania (BNR) will convoke the National Committee for Macro-prudential Supervision, where the Ministry of Finance will be required to clarify the… Mai mult›
Romania's economy will record an advance of 3.5% in 2019 and 3.1% in 2020, down one percentage point from June 2018 forecast, according to… Mai mult›
The benchmark government bond yield jumped above the 5% threshold on Thursday. The Ministry of Public Finance (MFP) attracted RON 300 million from banks on… Mai mult›
The Ministry of European Funds has taken out Iasi-Tg. Mures highway project from the Large Infrastructure Operational Programme 2021-2027 and the Ministry of Transport already… Mai mult›
Senate postpones discussions on DNA’s request on waiving immunity of Calin Popescu Tariceanu until February 2019
The Senate has decided that it will put to the vote the decision to waive Calin Popescu Tariceanu's immunity only in the spring session, that… Mai mult›
Implementation of 5G technology, a multiplication effect in economy of EUR 4.7 billion - announces Sorin Grindeanu (ANCOM)
The National Authority for Management and Regulation in Communications (ANCOM) launched on Wednesday the National Strategy for the Implementation of 5G Technologies in Romania for… Mai mult›
Some of the amendments to the criminal codes will generate mistrust regarding Romanian state's ability to ensure the legality, stability and predictability of business relationships… Mai mult›
European Semester / European Commission asks Romania to correct its medium-term structural deficit by 1% of GDP
Minister Eugen Teodorovici is pressured by the EU to reduce the budget deficit After finding that the Government has done nothing to adjust the deviation… Mai mult›
The Government adopted on Thursday the ordinance that provides for the general framework for the establishment of a Sovereign Fund. Later, after new talks with… Mai mult›
The representatives of Ford Craiova met on Wednesday with mayors of 30 localities from Dolj county in order to stimulate the attraction of 1,700 new… Mai mult›
Development strategy / Government squeezes even investment money from its own companies: EUR 120 million from only two entities in energy field
Nuclearelectrica (SNN) and Romgaz (SNG) have calculated the additional dividends to be paid to the state after the Ministry of Finance (MFP) sent to the… Mai mult›
DNA, officially: Senate President is suspected of having received a USD 800,000 bribe. Case file opened at a request from Austrian judicial authorities
The case file in which the DNA requested the waiving of the Senate President’s immunity was opened at the request of Austrian judicial authorities and… Mai mult›
Romania has to recover illegal state aid worth EUR 60 million granted to Compexul Energetic Hunedoara, announced the European Commission with a statement released on… Mai mult›
The Ministry of Public Finance (MFP) intends to borrow in November RON 4.74 billion, 1.4% more than in the previous month, according to the Ministry.… Mai mult›