● TUESDAY, April 26
Russo-Ukrainian war created perturbations on Moldova’s currency market, expert
The Russo-Ukrainian war generated perturbations on the currency market of the Republic of Moldova, underlining further the pressure that is dictated by the energy sector already. Since the start of the war, the Moldovans have bought about US$400 million for making reserves. Currently, the pressure on the currency market is close to US$1 billion and is similar to the 2015 bank fraud situation, Veaceslav Ioniță, economic expert of the Institute for Development and Social Initiatives “Viitorul”, stated in the program ”Economic analyses with Veaceslav Ionita”. He noted that the population’s net currency sales in annual values decreased from US$2.383 billion at the end of last year to US$2.047 billion at the end of the first quarter of 2022, down US$336 million. This way, a large deficit appeared on the currency market. In annual values, this was almost US$990 million the last two months. Also, Veaceslav Ioniță said that this situation represents unprecedented pressure on the currency market and it will continue. The cause is not only the war in Ukraine. The gas issues that started last November also have an impact.
Harvesting in case of a number of crops will be one month late, NFF
The harvesting in the case of a number of field crops will be one month late owing to the low temperatures witnessed in April, executive director of the National Farmers Federation (NFF) Vasile Mârzenco. According to him, the low temperatures of April negatively influenced the growth of particular perennial crops, fruit trees and even sowed crops. “We will harvest not at the start of June, but at the start of July. Last year, the low temperatures had a not very good influence on the development of crops and the harvesting season was late even for fruit and grapes. The situation can repeat this autumn,” said the Federation’s manager.
● WEDNESDAY, April 27
Assets of nonbank lending sector up 15.74% in 2021
The nonbank lending organizations and the savings and loan associations that are authorized and regulated by the National Commission for Financial Markets provided loans to the value of about 12.44 billion lei in 2021. Of these, 11.35 billion lei were offered by nonbank lending organizations, while 1.09 billion lei by savings and loan associations. Compared with 2020, the loan portfolio was by 1.87 billion lei or 17.69% higher.
Government approves regulations on distribution of financial assistance for diesel fuel
The excise duties on diesel fuel will be subsidized partially, in the amount of 30% of the quota set for 2022 or 894 lei per tonne, but at most 100,000 lei annually per beneficiary. The regulations concerning the distribution of financial assistance was approved by the Government on Wednesday. The applicants must be registered when they submit an application and must legally own farmland, while the diesel fuel should be used to perform agricultural works. A sum of 200 million lei will be allocated from the state budget for the purpose.
Local Action Groups can ask for subsidies in advance in May-June
Some 5% of the value of the National Agriculture and Rural Development Fund will be earmarked for subsidizing in advance local development projects within the LEADER Program. Under the regulations approved by the Government, funds will be allocated for implementing two support measures. More exactly, 20% of the subsidies will go to ensure the functioning of the Local Action Groups, while 80% will be used to implement the local development strategy in different areas.
PM Gavrilița says no risk of not having an electricity supplier
There is no risk of not having an electricity supplier, prime minister Natalia Gavrilița told a press conference Wednesday. She said a tender process is currently underway to select electricity suppliers, with a number of bids on offer, but the results will not be communicated until after the exercise is over. Meanwhile, the Commission on Emergencies has extended the deadline for submitting bids by two more days until April 28. According to Gavrilița this will allow more time for evaluating the bids and negotiating the best price.
● THURSDAY, April 28
Moldovans who return home will not pay import duties on cars and personal belongings
President Maia Sandu submitted to Parliament a legislative proposal to provide fiscal and customs concessions to the Moldovan citizens who decide to return to Moldova to live here. The bill provides for exemption from import duties on personal belongings and a unit of transport brought into Moldova. This applies to persons who had been outside the country for at least 36 months during the past 48 months. To benefit from concessions, the citizens will file an application accompanied by confirming documents, it is said in a press release.
Farmers’ Force unhappy with diesel fuel excise refund scheme
The Farmers’ Force has expressed its discontent with the recently announced scheme for partially refunding the excise on diesel fuel used in agriculture. The organization said it will talk with farmers to stage protests unless the rules are changed by next week.
● FRIDAY, April 29
New call for grants for entrepreneurs in Cahul and Ungheni
Existing businesses and start-ups in the Cahul and Ungheni regions will benefit from grants of €14,000 to 24,000 each, awarded by the European Union in the framework of the “EU4Moldova: Focal Regions” program, funded by the EU and implemented by UNDP and UNICEF. The new call for grants of up to €300,000 was launched, for the development of the private sector in both focal regions. The requirements of the competition and the applicant’s guide may be downloaded at www.eu4cahul.md and www.eu4ungheni.md.
Agricultural producers can buy photovoltaic panels in advantageous conditions
Agricultural producers will be able to purchase photovoltaic panels in advantageous conditions, with zero VAT and without collateral, with the designing costs being covered by the Agency for Agriculture Development and Modernization. A financial assistance program for transition to the green economy was launched in Chisinau by the Agency and by the Moldova Future Technologies Activity (FTA), which is funded by USAID and Sweden. The producers can get support in the amount of 50% of the cost of investment, but not more than 2.5 million lei per beneficiary. Furthermore, through the agency of the Future Technologies Activity, the beneficiaries will be able to obtain grants in the amount of up to 200,000 lei, at most 20% of the cost of the project. The limit of the budget allocated by the project is 2 million lei.
Investigation of one more episode of CFM case completed
The Prosecutor’s Office for Organized Crime and Special Cases finished the investigation into another episode of the case of embezzlement at Moldova’s Railways (CFM), which features a person who formed part of the company’s administration in 2018-2019. The person is accused of professional negligence as a result of which the company failed to collect almost 800 million lei revenues in 2018 and 2019. Consequently, CFM was unable to cover internal losses suffered from other activities, with damage of almost 100 million lei being caused to the company’s property.
Germany invests €9m in construction of new wastewater treatment station in Cahul
Government of Germany invests €9 million in the designing and building of a new wastewater treatment station in Cahul district. The new station will serve Cahul town and the neighboring villages Cotihana, Roșu, Crihana Veche. The designing and building works will last for two years, IPN reports, quoting a press release of the representative office of the German bank KfW in Chisinau.
Gazprom confirms gas supplies to Moldova in May
Gazprom has officially confirmed gas amounts to be delivered to Moldova in May, Moldovagaz said in a press release. The Russian gas giant has announced 163 million cubic meters, for both banks of the Nistru. The gas will be supplied via the traditional route. The price calculated for May is $910.
● SATURDAY, April 30
Electricity price unchanged in May
Electricity rates for consumers will remain unchanged for at least until May 31, announced Prime Minister Natalia Gavrilița after the meeting of the Commission for Emergencies on Friday evening. The Government empowered Energocom to negotiate directly with the Kuchurgan power plant, as an intermediate solution for one month. The result is a negotiated price of $59.5 per megawatt hour. Despite this being an increase from the current $53.5, Gavrilița says consumer rates will “practically” remain unchanged.
Octavian Armașu: Recent crises highlight need for banks to be agile
“The latest crises have highlighted the need for central banks to be agile and to respond to rapidly changing circumstances in order to help ensure the stability of the financial system. It has become clear that research into advanced monitoring tools will be key to strengthening the banking sector’s resilience to internal and external shocks”, stated Octavian Armașu, head of the National Bank of Moldova, during the 8th Research Conference dedicated to the 30th anniversary of the monetary independence of the Republic of Northern Macedonia. The event was organized by the central bank of this country, together with the European Investment Bank, in Skopje.
Lilian Carp on Rybnitsa Steel Works: Some concessions have been made, but only for a month
MP Lilian Carp, chairman of the National Security Committee, has revealed details from the meeting between presidential adviser Dorin Recean and the de facto leader of Transnistria Vadim Krasnoselski. “However, some concessions regarding the Steel Works have been made in return, also for the duration of one month. It has been agreed that the environmental agencies of the Republic of Moldova will inspect the Steel Works and issue the required authorizations. The plant has been operating without an environmental permit for three months now, and it has been agreed that it will continue to carry on as before for one month more. In return, we got electricity supply at the old price”, told the PAS lawmaker Lilian Carp.
