● MONDAY, March 9

Landlines continue to lose ground to mobile phones

The Moldovans last year spoke 2.6 billion minutes over the landlines, which is by 13.3% less than in 2013. In the case of mobile telephones, the volume of voice traffic rose by 7.8% exceeding 6 billion minutes. According to the National Regulatory Agency for Electronic Communications and Information Technology, the fixed-line telephone users brought fewer revenues in 2014, for the seventh consecutive year. Sales decreased by over 10% to 1.2 billion lei. During a year, the total number of subscribers fell by over 3,200 (0.3%).

Moldovan farmers can place ads free on announcements website

The farmers of Moldova can publish advertisements free on the announcements portal www.999.md. The owners of the portal established a partnership in a move to support agriculture, given the difficulties experienced by the farmers following the bans imposed by Russia. In a news conference at, website owner Dmitri Voloshin said that a new category was created recently – “Agriculture”. The announcements in this category can be placed free until this yearend. Starting with next year, there could be levied charges, not yet if the situation in agriculture remains as difficult. The portal’s executive director Roman Stirbu said the Internet becomes increasingly accessible in Moldova and by this initiative they aim to create a direct connection between the producers and consumers.

Draft budget law will be presented to Government next week

Minister of Finance Anatol Arapu said the 2015 draft state budget law is almost ready and is to be presented to the Government next week. Before being submitted to the executive, it will be discussed with trade unions and representatives of the business community. The minister noted that now the draft law is being discussed with experts of the International Monetary Fund. The forecast by local experts that the economic development will slow down are plausible as the regional crisis affects Moldova too.

● TUESDAY, March 10

Mobile Internet access penetration rate at over 33%

The mobile Internet market continued to grow dynamically in 2014. The number of mobile Internet users increased by 16.7%, while the mobile Internet access penetration rate rose to 33.4%. According to the information furnished by the three providers of public mobile communications networks and services (Orange Moldova, Moldcell, and Moldtelecom), the Internet traffic at wireless access points grew by 37% to over 28.8 million GB. A user that accessed mobile Internet through the telephone/smartphone consumed 132 MB of traffic on average a month, while a user that accessed mobile Internet through modems/cards/USB (dedicated mobile Internet) used over 8.5 GB of traffic a month.

World Bank confirms support for Moldova

The World Bank Country Director for Ukraine, Belarus and Moldova Qimiao Fan, in a meeting with Prime Minister Chiril Gaburici, confirmed the World Bank’s support for Moldova and underlined the importance of making progress in promoting reforms in the key areas. The officials discussed the situation in the financial sector, the WB’s assistance provided through the budget support operations and the joint projects in education, healthcare and social protection. According to a communique of the Government, Prime Minister Chiril Gaburici said the executive aims to stabilize the banking sector, to develop the economy and to increase the people’s incomes. He assured that the Government will continue the reforms, including within the Association Agreement with the EU.

IT businesses can be developed successfully in Moldova, report

In Moldova there are all the preconditions for developing a successful business in the IT sector. This conclusion is contained in a report on the competitiveness of the IT industry and services that was presented by experts of the International Data Corporation (IDC) – a global IT research and consultancy company. The report presents in detail the situation on the IT market – from the road infrastructure to the business climate. It enables to identify and eliminate the existing constraints. “I remain confident that the IT industry, which is a sector with prospects at world level, will become so in Moldova too. I think this is one of the few industries that can ensure the country’s economic development,” ICT Minister Pavel Filip said in the event held to present the report.

EBRD provides new funds to support small firms in Moldova

The European Bank for Reconstruction and Development (EBRD) is increasing the availability of local currency financing to private businesses in Moldova with a US$ 8 million loan to ProCredit Bank for on-lending to small and medium-sized enterprises, IPN reports, quoting a press release of the Bank. “We continue to support ProCredit Bank and increase the availability of local currency financing to private businesses as access to long-term funds remains very limited in Moldova. The structure of our loan ensures better control of foreign exchange and credit risks for ProCredit Bank and its customers,” said Henry Russell, EBRD Director for Financial Institutions in the Western Balkans, Belarus, Moldova and Ukraine.

Premier holds discussions with employees of State Tax Service

All the economic entities must be treated equally, Prime Minister Chiril Gaburici said in a meeting with employees of the State Tax Service. He encouraged them to submit initiatives that would contribute to achieving the objectives set for the future. “I come from the business sector. When I was involved in business, I always wanted to see a partner in the State Tax Service, not only an inspection body. The independence of the State Tax Service is a very important factor. All the economic entities must be treated equally. They all have the same rights and obligations,” stated the Premier.

● WEDNESDAY, March 11

Competition Council examines developments on currency market

The competition-related problems on the currency market were discussed in a meeting staged by the Competition Council on March 11. Representatives of the authority warned the participants in the currency market (banks, currency exchange facilities) about the effects of the dishonest activities and tacit agreements between some players, which affect the competition environment and the welfare of consumers. In the meeting, the representatives of the currency market were familiarized with the role and powers of the Competition Council in dealing with the problems in this sector.

Asito made capital moves of about 80m lei

Representatives of the National Commission for Financial Markets were questioned by the Parliament’s commission on economy, budget and finance in connection with the issuing of an authorization that enabled the insurance company Asito to invest over 15% of its capital in another company. The commission’s head, Lib-Dem Stefan Creanga asked the Prosecutor General’s Office to pronounce itself on the legality of the issued authorization. He assured the journalists that there is no danger to the insurance market of Moldova. After selling real estate, Asito made capital moves of about 80 million lei and this transaction was beneficial as the joint stock company’s capital could be diversified.

Premier seeks annulment of obligation to buy stamp when registering business

Prime Minister Chiril Gaburici asked the competent bodies to find possibilities for annulling the provisions that oblige the economic entities to purchase a stamp when they register a business at the State Registration Chamber. The Premier said this is an outdated requirement as there are now digital signatures. “The economic entity pays 30% of the business registration costs for the stamp. I don’t think the stamp is now necessary,” said the Premier.

● THURSDAY, March 12

Financing opportunities for young people who start rural businesses

The young people from rural areas who want to start businesses in agriculture will benefit from training and grants within the financing agreement of the Inclusive Rural Economic and Climate Resilience Program between Moldova and Denmark, through the International Fund for Agricultural Development (IFAD).  The Government is to submit this agreement to Parliament for ratification. The total value of the agreement is US$5.27 million, which will be offered to Moldova as a grant. The young people will benefit from non-reimbursable financing, consultancy when drawing up business plans and training in the post-financing period. The financing will represent 40% of the necessary sum, but will not exceed 120,000 lei per investment project.

Government suggests extending moratorium on three banks under special administration

The Government approved amendments to the Law on Financial Institutions by which the moratorium imposed by the National Bank of Moldova on the three banks that are under special administration is extended to nine months, plus two months, if necessary. According to the central bank’s vice governor Ion Sturzu, complex analyses should be carried out within the special administration process, by attracting audit firms. Only afterward will the measures to improve the situation be implemented.

● FRIDAY, March 13

Farmers discuss faced problems with Premier 

The farmers are dissatisfied because they do not have access to loans and because the fuel prices remained unchanged after the petroleum grew cheaper. In a meeting on March 13, Prime Minister Chiril Gaburici promised them that he will intervene. Chiril Gaburici told the journalists that together with the Ministry of Agriculture and the Ministry of Economy, they will look for solutions to farmers’ problems. The Premier said yet that the Moldovan products do not fully meet the European standards and called on the farmers to invest in their quality so that these become competitive.

Electricity and gas suppliers seek higher tariffs 

A number of electric power and natural gas operators requested the National Agency for Energy Regulation (ANRE) to approve higher tariffs for the electricity and gas distribution and supply services. The ANRE considers the higher tariffs proposed by the suppliers are unjustified and said it will examine thoroughly the calculations done by the operators so as to prevent irregularities. Next week, the Agency will initiate public consultations where operators’ requests will be presented for debate.

● SATURDAY,  March 14

Recommendations concerning stabilization of national currency 

The Independent Analytical Center “Expert-Grup” said that to improve the economic situation and stabilize the exchange rate of the Moldovan leu, the authorities should immediately negotiate and sign a new agreement with the International Monetary Fund. Also, the National Bank of Moldova should gradually relax the monetary policy so as not to endanger the already pessimistic economic growth prospects. According to experts, the depreciation of the national currency that started in the last quarter of 2014 and continues shows that the economy entered a contraction phase, while the weakening of the banking sector following the dubious transactions of the last few years will lead to worse socioeconomic indicators in 2015.

Agriculture minister announces time when farmers will have access to loans and subsidies 

Minister of Agriculture and Food Industry Ion Sula said the farmers will have access to loans from Poland’s €100 million loan and from the loan “Moldova’s Orchard” in at most a month. As to the loans from the Polish loan, the minister said the interest rate set at the level of 3% should be lower. “The Prime Minister asked that arguments should be presented in several days so that the Government could take a final decision. Now that we discuss reducing the interest rate, we will make effort for it to be decreased,” he stated.