Contents
- 1. Only cash flows to be paid out or received by the operatio…
- 2. Non-cash accounting items such as depreciation, any reserv…
- 3. Cash flows shall be discounted back to the present using a…
- 4. Member States may use a financial discount rate other than…
- 5. Values other than 4 % may be justified on the grounds of:
- 6. In order to establish specific financial discount rates, M…1 change
3.Cash flows shall be discounted back to the present using a financial discount rate of 4 % in real terms as an indicative benchmark for public investment operations co-financed by the ESI Funds.
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