● MONDAY, December 26

Range of patent-based activities extended in Transnistria

The number of entrepreneurial activities carried out based on individual patent was extended in the Transnistrian region. So, from now on, sports services could be provided in a sports hall without founding a legal entity and without having special studies if the fitness center is located in a separate hall, does not form part of a sports or hotel complex and is less than 500 square meters in area. Entrepreneurial patent is also issued to persons who opened self-service car washes, with special places for providing services. The price of patent varies depending on the number of available places. The entrepreneurs who provide recreational services at mini-carousels with arcade can also apply for a patent, on condition that they do not possess more than five recreational units.

● TUESDAY, December 27

Price ceilings for gasoline and diesel fuel raised again

After the National Agency for Energy Regulation announced higher price ceilings for gasoline and diesel fuel two weeks ago, the ceilings for the next two weeks were again raised. Thus, a liter of gasoline 95 will cost at most 17.36 lei, as opposed to 16.97 lei earlier. The diesel fuel will cost at most 15.17 lei a liter, as against 14.91 lei during the past two weeks. The new price ceilings will take effect on December 28 and will be applied until January 10. Two weeks ago, the fuel price ceilings were increased by about 0.7 lei.

● WEDNESDAY, December 28

Central bank governor: Year ends better than it started

The governor of the National Bank of Moldova Sergiu Cioclea considers the year ends better than it started. The exchange rate of the leu has stabilized this year. Inflation decreased, while the economy shows signs of recovery. The base rate, which is a thermometer of the economy, was cut from 19.5% to 9%. “So, as a doctor, I would say that the conditions of convalescence are present. Now the banking system surely reacts to the improvements in the business sector with a particular delay. In fact, in 2016 we see the problems accumulated in 2014-2015, which were difficult years, in the balance of the banks. First of all, there was a powerful drought in that period. The interest rates increased a lot and lending activity diminished. This is a big problem as lending is the main function of the banks,” the governor stated in an interview for Radio Free Europe. Sergiu Cioclea believes 2016 was a turning point for the banking system because the reforms initiated by the previous administration ultimately acquired a systemic framework in the agreement with the International Monetary Fund.

● THURSDAY, December 29

Recycling of chemical equipment is not profitable 

Figures show that from economic viewpoint, it is not feasible to build plants for recycling chemical products and equipment that contain heavy metals in Moldova. Only infrastructure for collecting and transporting these abroad for recycling them there should be built. Svetlana Bolocan, division head at the Ministry of Environment, in a news conference, said the responsibility for using chemical products and endangering people’s health is borne by each consumer apart. The Ministry of Environment set the banning of the use of chemical substances in goods that are sold on the home market as a key goal. This way the state will have the task of working our policies and mechanisms for reducing the production of chemicals.

New approaches to Free Trade Area in Transnistria are needed, opinion 

The European Union and the Moldovan authorities should suggest new approaches to facilitate the implementation of the Deep and Comprehensive Free Trade Agreement (DCFTA) in the Transnistrian region as the authorities in Tiraspol will avoid doing this on different pretexts, considers expert of the Institute for Development and Social Initiative “Viitorul” Valentin Lozovanu, who carried out a study on the issue. The expert said the Transnistrian private companies that export to the EU should be further supported as they are interested in complying with the imposed requirements. This will enable to avoid excessively politicizing the dialogue between Chisinau and Tiraspol and to identify solutions to meet the needs of businesspeople and inhabitants of the Transnistrian region. The changes in the region’s economic structure, which are already noticed, influence the local decision makers. This approach, together with particular favorable developments at regional and international levels, could lead to an improvement in the political dialogue and identification of new compromise solutions, based on common interests.

Governmental commission to inventory Cricova complex 

The Government constituted a commission for additionally inventorying facilities of the Cricova wine complex, namely the quarry galleries and underground constructions, including the tasting halls. There will also be inventoried the terrestrial buildings and collection wines. In 2004, the Cricova wine complex was declared a component part of the cultural and national heritage of the Republic of Moldova. Since then, its infrastructure has been partially modernized and a number of facilities were built for developing wine tourism. These will be included in the national cultural heritage “Cricova”, according to a list compiled by the commission.

Polish loan for Moldova to be renegotiated 

The €100 million assistance loan provided by the Government of Poland to Moldova, based on an agreement signed in Chisinau in May 2014, will be renegotiated in the amount of €50 million. On the basis of this agreement, the agricultural enterprises of Moldova can purchase different equipment and services for developing and modernizing businesses. The contracts are signed by Polish entrepreneurs and Moldovan businessmen and are approved by the ministries of finance of the two states. However, from the very beginning, even if the lending conditions were described as very good by the Ministry of Finance of Moldova (interest rate of 2%), the borrowed amount was distributed with difficulty. At different meetings, businessmen said this was due to the bureaucratic obstacles faced in accessing the loan.

● FRIDAY, December 30

Gazprom and Moldovagaz extend contracts until December 31, 2019 

SA Moldovagaz has announced that the contracts for the supply of natural gas signed with Gazprom have been extended until December 31, 2019. For the purpose, the sides signed additional agreements to the contract concerning the conditions of supplying natural gas to the Republic of Moldova in 2007-2011 and the contract concerning the conditions of transporting natural gas through the Republic of Moldova of 2011. During the period of validity of the contracts, there will be applied the same European formula for determining the natural gas prices for Moldova consumers. The formula is based on the average arithmetic value of the selling price of natural gas set by SAP Gazprom for the European countries and the quotations of oil products.

● SATURDAY, December 31

Productivity in Transnistria in 2016 lower than a year before 
 

The inflation rate in the Transition region in the first 11 months of this year was of 3.79% compared with the corresponding period last year, the regional authority for industry and economic development says in its report. Among food products, the price of eggs rose by 25.9%, of sugar by 13.5%, while of meat by 11%. Among nonfoods, tobacco products increased in price by 26.81%, domestic appliances by 13.68, while building materials by 10.12%. The increase in costs for banking activity was the main cause that led to a rise in services in the consumption sphere.

IMF could review agreement with Moldova 

If some of the commitments related to the achievement of objectives within the program with the International Monetary Fund are annulled, the IMF could review the program to see if its major goals can be yet achieved, it is said in a Fund’s comment for Radio Free Europe. IMF Resident Representative Armine Khachatryan made the comment in reaction to President Igor Dodon’s recent statement concerning the decision to transform the loan granted by the National Bank of Moldova (NBM) to the three liquidated banks into public debt. The comment says the Law on the conversion of the Government’s guarantees issued by the National Bank of Moldova in 2014-2015 into government securities, which is into public debt, was one of the preliminary actions within the program with the IMF, as it is said in the letter of intent signed by the authorities and the memorandum of economic and financial policies.

Tiraspol cuts tax for entrepreneur’s patent 

The tax for the entrepreneur’s patent in the Transnistrian region wil be 4 Transnistrian rubles a month for producing goods and providing services and 6 Transnistrian rubles a month for retail trade. The equivalent in Moldovan lei is 7 lei and 10 lei respectively. The Transnistrian leader Vadim Krasnoselski signed a bill that provides for the diminution of the tax for the entrepreneur’s patent. The taxes were set for 2017 – 2019. Vadim Krasnoselski was the author of this initiative when he formed part of the supreme soviet of Transnistria, which is the region’s legislature. He argued that the changes will help the people not to remain without sources of income.