What is the object of the project?
The object of the project concerns the development and operation of an Information System for the Private Debt Monitoring Register. On the basis of this system, it will be possible to collect data from public and private sector creditors on existing debt and to process such data.
The purpose of the processing is, on the one hand, to determine the debt which is currently unregistered and, on the other hand, to determine the largest possible non-performing private debt.
More specifically, the creditors shall update and provide this data to the Register on a semi-annual basis. The Register shall collect, process and store data exclusively in an anonymized form, which will not allow the identification of their subjects. The information system of the Register shall include the records of debts, the type of debts and any other information related to the existing private debt of natural and legal persons, kept in detail, with a view to their processing and the collection of aggregated comparable information from various sources on the total amount and variation of non-performing private debt, aiming at the overall assessment of the amount, the variation trends and the distribution of private debt among debtors, the preparation of statistical studies and economic analyses also in relation to economic indicators.
In the context of the processing of the above information, a Private Debt Management Report shall be prepared, which will include analysis and forecasting data for policy implementation, that will facilitate the design of a public strategy for efficient management of private debt. The information system of the register shall be interoperable with public or private sector databases and any other electronic system requiring the provision of information.
What are the expected benefits from the implementation of the project?
The following benefits are expected from the implementation of this project:
- Availability of Information. Availability of information that was partially or completely unavailable in the past. </
- Responsible governance. Strengthening the capacity of authorities to undertake public policy planning based on private debt management data.
- Transparency. Possibility of granting the private debt management report to public and private sector entities in accordance with the relevant provisions.
- Reliability. Processing of aggregated comparable information (data-inputs) to identify the factors influencing and affecting the variation of non-performing private debt.
- Financial stability. Effective management of non-performing private debt at a level consistent with the correct allocation of resources to the economy, aimed at the stability of the economy and the financial system and the strengthening of social cohesion.
