ECO-BUS WEEKLY DIGEST 11 January 17. Most important Economy & Business news by IPN

● TUESDAY, January 12

There are now no concerns about upsurge in prices, NBM governor

The National Bank of Moldova (NBM) for this year set a target inflation of 5%. Currently, this is under 1%, possibly close to zero. The low rate of inflation is a consequence of the decline in consumption, the decrease in the aggregate demand at the domestic and foreign levels. The economies are now strongly intercalated and Moldova’s economy is currently open, said NBM governor Octavian Armașu, noting there are now no concerns about an upsurge in prices. “We, through the monetary policy measures, try to support the aggregate demand, but the monetary policy probably has its limitations as to what can be done. For now, I’m not concerned about a swift increase in prices. We will possibly have a rise in prices if we manage to relaunch the economy in the course of 2021,” Octavian Armașu stated in an interview for the public TV channel Moldova 1.

NBM makes call to banks

The National Bank of Moldova (NBM) called on the licensed banks to show vigilance in the prevention and combating of money laundering and terrorism financing. According to the Bank, the activities in which the clients use large sums in cash imply bigger risks and the banks should take precautionary measures to prevent illegal transactions. In particular, the NBM warned the banks about the situations in which they must show prudence to understand what the source of the money used by clients and the essence of their operations are. The Bank reiterated the importance of prudently and continuously monitoring the operations performed by clients so as to promptly identify the related risks and to apply appropriate precautionary measures in accordance with the legislation on the prevention and combating of money laundering.

NBM official reserve assets at US$3.783,54bn at end of 2020

The official reserve assets at the end of last year came to US$3.783,54 billion, up US$103.07 million on November 30, when they totaled US$3.680,47 billion. The rise in the official reserve asserts was determined by the registration of loans and grants in favor of the Ministry of Finance for investment projects, to the value of US$59.28 million. The sum includes the US$49.95 million received from the European Investment Bank, US$3.82 million from the International Development Association provided in the framework of projects to support road sector programs and US$3.65 million from the IDA offered in the framework of COVID-19 emergency response projects. The diminution of the official reserve assets in the period was influenced by the Ministry of Finance’s payments of US$26.76 million and payments of US$9.44 million made to service Moldova’s external public debt and also by the net payments related to the mandatory reserves in currency of licensed banks, to the value of US$4.15 million, and the reevaluation of the securities maintained in the investment portfolio, in the amount of US$0.45 million.

● Wednesday, January 13

Fifty-one publicly-owned facilities put up for sale in 2020

A number of 51 state publicly-owned facilities were exhibited for sale in the course of 2020. Four outcry auctions, a commercial contest and three rounds of auctions on the regulated market of the Moldova Sock Exchange were held for the purpose. According to the Public Property Agency, 37 facilities were exhibited at the outcry auctions staged on August 5, October 21, November 4 and December 16, a part of them repeatedly. Nineteen facilities were bought, including four undividable patrimonial complexes, eight complexes of goods and seven building lots.

● TUESDAY, January 14

Amounts collected as property tax into 2020 state budget at 41.8m lei

The sums collected into the 2020 state budget as property tax was 41 844 600 lei. The State Tax Service said the taxpayers who didn’t pay the tax until December 28 will pay a penalty of 0.0210 % of the value of the unpaid tax for each day of delay. The penalty is a sum calculated depending on the size of the tax and the period that passed from the day this was to be paid. It is mandatorily applied by the State Tax Service or another responsible body. Before launching the forced execution of arrears of private individuals on the property tax, the Service will enable the taxpayers to voluntarily settle the arrears in a reasonable timeframe.

New details presented to commission of inquiry into “Laundromat” case

New hearings were held by the commission of inquiry into the “Laundromat” case on January 14. According to the presented information, the National Bank of Moldova (NBM) issued 37 warnings and imposed 18 fines totaling 2 million lei on the involved bank, Moldindconbank. As a result, representatives of the institution notified the law enforcement agencies. The commission’s head Inga Grigoriu called on the prosecutors to examine the NBM’s reports. Inga Grigoriu said the NBM officials who took part in the hearing provided responses to a number of questions addressed by the commission at the end of last year. There are 46 decisions to suspend suspect transactions, according to the Service for the Prevention and Combating of Money Laundering.

● SATURDAY, January 16

Fuel prices raised again

In a month of the last increase in the prices of fuels, filling stations posted new prices. The prices of gasoline and diesel fuel are by about 1 leu higher, while the price of liquefied petroleum gas is by about 0.80 lei higher. In the middle of last December, the gasoline and diesel fuel grew by about 0.60 lei a liter more expensive, while the price of liquefied petroleum gas was raised by about 0.40 lei a liter. Currently, gasoline of “95” type is sold for an average price of 17.10 lei a liter, diesel fuel for 14.45 lei a liter, while the liquefied petroleum gas for 10.10 lei a liter.