● MONDAY, August 28
Automated Interbank Payment System processed 14.3 million transactions last year
In 2022, the Automated Interbank Payment System (SAPI) processed 14.3 million transactions worth 1.22 trillion lei. The National Bank of Moldova says the system was available 99.9% of the time, with no major incidents able of affecting participants and critical processes.
According to the NBM, indicators of activity with payment cards maintained their upward trend. The number of cards in circulation increased by 19.2% compared to the previous year, and the number of cashless payments made with cards issued in the country increased by 33.8% compared to the previous year.
Farmer subsidy applications open
Applications are now open for subsidies for farmers in the livestock sector and those affected by the 2022 crises. A total of 1.8 billion lei has been made available for all the 2023 farmer subsidy programs, noted Agriculture Minister Vladimir Bolea during a press briefing held to clarify eligibility criteria.
Growing corn in drier areas could be banned by law
Growing corn in areas with little rainfall, in particular the southern part of Moldova, could be banned by law, announced Minister of Agriculture and Food Industry Vladimir Bolea.
Bank profits growing
At the end of June, the profit in the banking system amounted to 2.6 billion lei, increasing by almost 58% (939.2 million lei) compared to the same period of the previous year. According to the National Bank of Moldova, the increase in profit was due to an increase in interest income by 2.8 billion lei (75.7%) and income from fees and commissions by 182.0 million lei (13.2%).
Period for compensating transitional expenses to former small vendor patent holders is extended
The Ministry of Economic Development and Digitization has extended by two weeks, until September 15, the compensation period for transition expenses incurred by former small vendor patent holders, announced Minister Dumitru Alaiba on his Facebook account.
Germany to offer €10.7 million grant to support development of SMEs
Moldova will receive a €10.7 million grant from the German Federal Ministry for Economic Cooperation and Development (BMZ). The money will be provided through the German Development Bank (KfW) to support the development of SMEs in our country.
● TUESDAY, August 29
Valeriu Chiveri: Russian gas transit through Ukraine could be halted from end of 2024
The agreement enabling the transit of Russian gas through Ukraine to Moldova and further to Europe expires at the end of 2024 and chances are it won’t be extended, says Valeriu Chiveri, Moldova’s ambassador to Ukraine.
Bank assets 10.1% up in first half of year
In the first half of this year, the total assets of the banking sector grew by 10.1% to 144.6 billion lei. The largest share went to the balance sheet item “Loans and advances at amortized cost”, which constituted 41.4% (59.8 billion lei), decreasing by 3.3 points from the end of 2022.
The share of funds placed with the NBM constituted 27.6% (39.8 billion lei), decreasing by 0.6 point, and the share of banks’ investments in state securities and National Bank certificates represented 19.4% (28.0 billion lei), increasing by 4.2 points.
Loans to farmers saw biggest growth in first half-year
In the first half of this year, loans granted to agriculture saw the biggest increase compared to other loans, by 341.6 million lei, to a total of 4.8 billion lei. Loans granted to individual entrepreneurs also rose, by 237.3 million lei, to a total of 1.9 billion lei.
According to the National Bank of Moldova, at the end of June, the gross balance (prudential) of credits in the banking sector amounted to 62 billion lei, increasing during the analyzed period by 0.6% (360.4 million lei).
Energocom buys 300 million m3 of natural gas at Moldovagaz’s request
The state company Energocom said that it held a number of tenders in June and July to buy 300 million cubic meters of natural gas from its own funds, after being asked to do so by Moldovagaz. Some of the total amount is destined for current consumption, and the other part has been stored in Romanian and Ukrainian underground facilities to be used in the 2023-2024 cold season.
Moldova can solve problem of energy dependence and waste through innovation, entrepreneurs
Ion Rață, president of the “Innovative Projects” International Consortium, says that Moldova can solve the problem of energy dependence and waste. The funding for such projects could be ensured if the Moldovan Government cooperated with Romania, which, being a EU member, has access to large investments for the promotion of green energy.
Moldova could generate 20 mln MW of energy from waste, entrepreneurs
Today, Moldova has at least five million tons of biomass and household waste, from which 20 million MW of energy can be generated, of which 18 million MW of thermal energy and 2 million MW of electricity per year, thanks to the implementation of ecoHornet technology. This is was stated by Iuliean Horneț, a famous Romanian inventor and entrepreneur, in a press conference.
● WEDNESDAY, August 30
Central Depository holds state and NBM certificates worth 41.1 billion lei
As of the end of 2022, the Central Depository held 351.6 million state securities and National Bank of Moldova certificates worth a total of 41.1 billion lei.
This breaks down as follows: treasury bills – 19.8 billion lei, or 48.1%; state bonds – 12.1 billion lei, or 29.3%; NBM certificates – 6.6 billion lei, or 16.2%; state bonds with a fixed interest rate – 2.2 billion lei, or 5.4%; and state bonds with a floating interest rate – 444.1 million lei, or 1.1%.
Number of prox cards nearly trebled in last 5 years
As of the end of 2022, the number of cards in circulation issued by payment service providers was 2.8 million. By technical solution, proximity cards, the type of contactless smart card that doesn’t require inserting into a reader device, represented 97.3% of the total number of cards issued in 2022 and 97.6% of the total number in circulation.
Recommended minimum price for wine grapes is 6.5 lei/kg
The recommended minimum price for wine grapes is 6.5 lei/kg. In calculating it, the Council on the product chain “Grapes, wine, wine-based products and processed products” took into account the cost price of one kilogram of grapes relative to a harvest of about 8 tonnes/ha.
List of border crossings where petroleum product imports are allowed to be extended
The Government has endorsed a draft law proposed by the Ministry of Finance extending the list of border crossings through which bringing petroleum products into the country is allowed.
Agriculture in Moldova needs to revert to natural ways, biotech expert
Alexandru Brătuțel, biotechnology expert with the Prometeu Experimental Center, believes that Moldova needs to adopt an eco-friendly policy in agriculture.
Moldova-China Chamber of Commerce organizes economic mission to 2023Canton Import & Export Fair
The Moldova-China Chamber of Commerce and Industry is organizing an economic mission to the 134th edition of the Canton Import & Export Fair. The event will take place from October 15 to November 5 in Guangzhou, China.
Diaspora Invest event to be held in Frankfurt on September 17
Moldovan citizens in Germany can participate in an event dedicated to investment that will take place in Frankfurt on September 17. The event takes place as part of the Diaspora Invest Program and is organized by the Invest Moldova Agency.
● FRIDAY, September 1
Russian gas to be bought for US$268 per 1,000 cubic meters in September
The Russian gas this month will be purchased at the price of US$568.82 per 1,000 cubic meters of gas, Moldovagaz CEO Vadim Ceban has announced.
Remittances last year up on a year before
The value of remittances sent to Moldova in 2022 was US$1.8 billion, up 8.3% compared with 2021. The transfers made from the country last year came to US$642.6 million, an increase of 32.7% on a year before.
● SATURDAY, September 2
Flights to Greece with Aegean Airlines from November
Aegean Airlines launches the Athens – Chisinau flight this November. The air company will operate two flights a week. The subject was discussed by President Maia Sandu with the Greek authorities during her visit to Athens, IPN reports. “We will be able to easier travel for tourism or business purposes, while the Moldovans who settled in the Hellenic Republic could travel home more often to see their families,” said President Sandu, being quoted in a press release.
