Financiarul

State Treasury is to finalize in spring 2010 the project aimed at consolidation of local accounts into the central treasury account in real time, stated on Wednesday in a financial seminar, Treasury director general Laurentiu Andrei.

The data bases of local and county treasuries will be integrated into the central data base and these treasuries can have direct access to the central treasury server, the advantages being the reduction of the period of time for the settlements and the possibility to draw up outlooks based on the receipts and payments. Consolidation will allow the optimal re-distribution of the available funds according to the existing needs, stressed the State Treasury head.

Starting with 2007, the Treasury has an own system of electronic payments, a first at the level of the European Union, where the central banks provide these services for treasuries.
Prior to the implementation of this system, the period between the payments made by contributors and the money entrance into accounts was of some three days.
At present the Treasury accounts for 30 percent of the lei settlements on the Romanian market. At European level the average is of some 20 percent of the settlements nationwide.

“We wish to also extend the settlement system of the State Treasury by creating an infrastructure of business (a dedicated group of beneficiaries)”, representative of the Ministry of Public Finance (MFP) also said.