Parliament passed the law on interest write-offs and reprogramming of debts and expenses of individuals, which will put more than 10m euros in debt to citizens, the Justice Ministry said.
The law shall delete the interest on all cases given for execution as of 31.12.2017 by public and state-owned enterprises or state authorities and institutions.
The law also provides for reprogramming the debt, ie payment of the main debt in installments. The higher the debt, the longer the repayment period will be increased, ie it will be paid in several installments.
"With respect to reprogramming, the new legal solution proposes that the payment of the principal debt and the costs of the proceedings before the court, the notary public and the enforcement agent be made in monthly installments, depending on the amount of the debt and the costs.
Creditors who are in state or public ownership, by virtue of this law, are obliged to make full interest write-offs and reprogramming of the main debt and expenses within three months from the day this law enters into force, ”the Ministry clarified.
Creditors who are privately owned perform the voluntary repayment of interest, as well as the rescheduling of principal debt and expenses.
The law, which was adopted yesterday, will enter into force on the eighth day of its publication in the "Official Gazette of the Republic of Northern Macedonia".
