Romania got the first city, officially asking for the bankruptcy status
Administration of Aninoasa city in Hunedoara County has filed a petition to the tribunal with a request for bankruptcy announcement.
The budget of the 5-thousand people city amounts to 4.2 million Romanian lei, while the amounts of its loans have already exceeded 5.7 million lei, Moldnews informs.
According to Aninoasa Primar Nicolae Dunca, the debts were made by the previous administrator, who had governed for approximately 20 years.
The possibility for local primaria to claim for bankruptcy was approved by the Government less than a month ago with the hope to resolve the issue with continuous allocations from the budget for payment of debts by local public authorities.
English translation by BSN