Moldovan Parliament has passed in the second reading the law limiting the increase of the interest rate on loans within the Prima Casă (First House) state program.
In particular, lawmakers approved amendments to Article 6 of the Law on Some Measures to Implement the Prima Casă State Program, under which interest rate increases for loans granted under the program may not exceed 4 percentage points once every 6 months and over 6 percentage points once every 12 months - within 12 months. The draft law was elaborated by the government in order to reduce the negative impact of the calculated index increase when setting the maximum interest rate under the Prima Casă program. It should be noted that the interest rate on loans granted under the Prima Casă program increased by 5.35 p.p. - from 7.37% to 12.72%. As a result of the measure proposed by the government, the interest rate increase will be reduced by 1.35 p.p., or about 1/4 of the applicable increase, according to the initial conditions established by the program. The law will take effect from the date of publication in Monitorul Oficial (the Official Journal of Moldova), and will also apply to loans issued before that date. At the same time, the government is studying other measures and tools to support recipients of mortgage loans under this state program. // 28.07.2022 – InfoMarket
