Zmiany systemu finansowania inwestycji
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Date
1969
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Publisher
Wydział Prawa i Administracji UAM
Title alternative
Changes in the System of Financing Investments
Abstract
The proposed changes in the system of financing investments that were resolved
at the 2nd Plenum of the Central Committee of the Polish United Workers'
Party in 1969, and which are discussed nowadays, schedule a general application of bank credit, a restriction of incidence in auto-financing and a far-reaching
desistance from the system of budgetary allowances. The postulated increasing
role and significance of bank credit will take place chiefly in the sphere of financing
the branch investments, including former central and amalgamation investments
and partly the enterprise investments. It is proposed to finance branch
investments with economic or technical bank credit.
The economic credit, postulated by Z. Fedorowicz, J. Pajestka and M. Kucharski
is based on the obligation of refunding the outlays together with interest
from the future amortization and profits gained during the exploitation of investment
objects.
The solutions accepted in the resolution of the 2nd Plenum of the Party and
by T. Kierczyński and U. Wojciechowska schedule credit restrictions for the
period when the investments are being realized. After they have been finished,
a single refund should follow from the investment fund of the amalgamation,
formed of profits and amortization of the enterprises, what gives the credit
a technical character anticipating means of non-budgetary close-end fund. The
resolution of the Party schedules extinguishment of appropriations, and so it does
not break with budget altogether. Investments of budgetary units are to be financed
with technical credit. This conception does not set distinct limits to auto-financing
of investments, but enriches instruments of reacting by the bank in order
to shorten the investment cycle and to concentrate investment outlays.
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Digitalizacja i deponowanie archiwalnych zeszytów RPEiS sfinansowane przez MNiSW w ramach realizacji umowy nr 541/P-DUN/2016
Keywords
Citation
Ruch Prawniczy, Ekonomiczny i Socjologiczny 31, 1969, z. 4, s. 151-170