● MONDAY, July 3
Russian gas in July will be bought for US$550 per 1,000 cubic meters
The Russian gas in July will be purchased for US$550.6 per 1,000 cubic meters of gas, Moldovagaz CEO Vadim Ceban has announced.
According to him, as the previous months, the whole volume of gas bought form Russia’s Gazprom is supplied to the Transition region through Tiraspoltransgaz.
Moldova-China CCI stages mission to International Green Energy Exhibition in Guangzhou
The Moldova-China Chamber of Commerce and Industry (CCI) during August 8-10 mounts a mission to the Guangzhou International Green Energy Exhibition in the People’s Republic of China. This is one of the greatest and most influential solar photovoltaic and energy storage exhibitions in China. The 2023 Solar PV & Energy Storage World Expo will cover an exhibition area of 100,000 square meters, with 1,500 high-quality exhibitors that will present last-generation photovoltaic panels.
Businesspeople invited to take part in Solar PV & Energy Storage World Expo in China
Businesspeople from Moldova are invited to take part in the 15th edition of the Solar PV & Energy Storage World Expo – 2023. The event will bring together agouti 1,500 exhibitors that follow the new tendencies on the market and tend to innovation The Moldova-China Chamber of Commerce and Industry, which organizes the economic mission to the event, noted that the participation in this exhibition is an opportunity for adhering to the international development objectives and for borrowing and implementing practices in Moldova.
● TUESDAY, July 4
NAER to consider new power charges Wednesday
The National Agency for Energy Regulation (NAER) comes together for a meeting on Wednesday to examine the requests to adjust the regulated prices of electrical energy, which were made by the two suppliers.
● WEDNESDAY, July 5
ODA vice director: About 300 enterprises will benefit from support from EU
The European Union offers €8 million in grant funding in support of entrepreneurship in Moldova. Vice director of the Organization for Entrepreneurship Development (ODA) Marin Ghenciu said the money is intended primarily for small and medium-sized enterprises operating in rural areas and will represent co-financing for state budget-funded projects.
Lower interest rates on loans provided through “First House” Program
The interest rates on loans released as part of the “First House” State Program have declined. As from July 1, the highest annual interest rate on loans provided through this program is 10.87%, down 5.8 percentage points from the previous rate.
Subdivides in advance and compensation for diesel fuel used by farmers
The Government will provide subsidies of up to 4 million lei in advance for developing farming and rural areas. It will also compensate the costs for diesel fuel used by farmers since last autumn. The regulations on complementary subsidization in agriculture were approved by the Cabinet on Wednesday.
Validity of radio licenses issued at contest to be extended to 25 years
The period of validity of radio licenses issued on a contest basis will be increased from 15 to 25 years. The licenses could be extended without paying the portability tax, as a bill that was approved by the Cabinet provides.
Signing of Free Trade Agreement with EFTA is an important step for Moldova, minister
The Republic of Moldova joined the Free Trade Agreement with the European Free Trade Association (EFTA), which brings together Iceland, Liechtenstein, Norway, and Switzerland. This means concessions and elimination of customs duties for a series of industrial and agricultural products. The document was signed in Liechtenstein.
Electricity charges lowered
Consumers will pay less for electrical energy. The National Agency for Energy Regulation (NAER) approved charges that are by about 0.4 lei/kWh lower for household users powered by Premier Energy and SA FEE Nord. The new charges take effect when they are published in the Official Gazette.
● THURSDAY, July 6
Profit in banking system at 1.3bn lei at end-March
At the end of the first quarter of this year, the profit in the banking system came to 1.3 billion lei, being by 67.3% higher than in the corresponding period last year. The rise was mainly influenced by the increase in interest income and non-interest income. The interest income grew primarily due to revenues earned from investments in securities and National Bank certificates. Incomes derived from lending and from money deposited at the National Bank of Moldova (mandatory reserves) also rose.
Association of experts suggests support mechanism for farmers
The provision of 1 leu per kilogram to farmers as direct compensation for production costs for the created supplies would be a sufficient minimum for recovering the losses the agricultural year 2021-2022. The proposal was formulated by the leader of the Association of Experts LEC-ECON Consulting Octavian Calmîc, ex-minister of economy.
● FRIDAY, July 7
Electricity charges are lower from today
As form July 7, consumers will pay by about 0.4 lei/kWh less for electrical energy. The new charges were published in the Official Gazette on Friday.
Bill on crowdfunding given final reading
The MPs adopted the draft law on crowdfunding after giving it a final reading. This way, online platforms that will bring together investors and persons who need financial resources could be registered in Moldova as from next year.
Parliament ratifies loan agreement with IBRD for economic growth
The Republic of Moldova will borrow €92.1 million loan from the International Bank for Reconstruction and Development (IBRD) to stabilize and grow the national economy. Parliament ratified the loan agreement.
Common VAT rate for all medicines, regardless of tariff position
Parliament adopted a bill to amend the Tax Code and the law on customs duties so that VAT is uniformly applied to medicines. This way, a common VAT rate of 8% will be imposed on medicines, regardless of their tariff position.
€50.1 million loan to be raised for agriculture
Parliament gave a first reading to the bill to ratify the €50.1 million loan agreement for investments in agriculture with the International Bank for Reconstruction and Development.
Under the agreement, the money will be used to implement the Moldova Agriculture Governance, Growth and Resilience Investment (AGGRI) Project. The project will help the country to improve delivery of public agricultural services, foster market-oriented growth, increasing the economic resilience of targeted beneficiaries, and provide effective mechanisms of responding to emerging crises.
Official reserve assets up over US$34 million
Official reserve assets at the end of June came to $4.902,67 billion, up $34.4 million on May 31, 2023, the National Bank of Moldova has said.
The increase in official reserve assets was due to the appreciation of the exchange rates of the component currencies of the foreign exchange reserves against the US dollar ($26.86 million), to net inflows of required foreign currency reserves of licensed banks ($22.11 million) and to the income from the management of foreign reserves ($15.71 million).
New energy vulnerability categories: primary and extreme
Two categories of energy vulnerability will be added to the existing ones: primary and extreme. Their introduction is needed so as to distinguish the most vulnerable households and offer them higher compensation, according to a bill approved by Parliament in the first reading.
Parliament endorses withdrawal from International Sugar Agreement
The Moldovan Parliament voted in the first reading to withdraw from the 1992 International Sugar Agreement and cancel our country’s membership in the International Sugar Organization (ISO).
In recent years, sugar beet plantations in Moldova shrunk and the overall production dropped, reducing the rationality for keeping the ISO membership.
Violeta Cojocaru takes over as Poșta Moldovei director
Violeta Cojocaru has been promoted to director of the state-run Poșta Moldovei as her predecessor, Roman Cojuhari was appointed as director of the Public Property Agency.
Upper limit for subsidies offered to Water User Associations increased
The upper limit for subsidies offered to Water User Associations has increased. The government will subsidize up to 65% of the energy costs incurred for pumping water through irrigation systems, but no more than 3 million lei per applicant.
