President returns “Loan Law”

The law passed in Parliament this December, after it was discussed in Parliamentary committees, where the opposition doubted its constitutionality.

The President considered the law against the Constitution, and for this he has attached long and detailed arguments. The President reminds the government with a very direct language in these arguments that they cannot take loans without the Parliament’s approval.

The government says they want to reduce the loan costs through this, but the President says that the government is violating the power the Constitution recognizes to the Parliament and to the Minister of Finances.

The President notes that the law also reduces transparency for public finances, since it excludes the public procurement process which, according to the law, will be resolved with a government approval.

For this reason, the President asked the MPs to review their stance, because the law doesn’t justify the goal for which it has been drafted and falls against the Constitution.

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