● TUESDAY, May 2
IMF makes about US$ 21.5 million available to Moldova
The Executive Board of the International Monetary Fund completed the First Reviews under the Extended Credit Facility (ECF) and Extended Fund Facility (EFF) arrangements in a total amount of SDR 129.4 million. Completion of the review makes available SDR 15.7 million (about US$ 21.5 million). In a press release, the IMF Office in Moldova says the authorities continue to make significant progress in tackling long-standing vulnerabilities in the financial sector and advancing structural reforms. These efforts have helped to strengthen financial stability, and growth has returned. The economy is projected to grow by 4.5 percent in 2017, higher than previously expected.
Lower price ceilings set for next two weeks
The National Agency for Energy Regulation made public the new fuel price ceilings for the next two weeks. Between May 3 and May 16, the price ceiling per liter of gasoline will be by 0.46 lei lower, while per liter of diesel fuel by 0.47 lei lower.
Mobiasbanca has a new president
The National Bank of Moldova on May 2 approved the appointment of Antoine Gabizon as the new President of the Management Board - CEO of CB ”Mobiasbanca – Groupe Société Générale” S.A. According to a press release of the bank, during a 33-year career with Société Générale, Antoine Gabizon has gained an important and diversified experience in banking.
Rape and wheat fields in Cahul and Taraclia were 30% affected
The meteorological variations of April 20-22 affected up to 30% of the rape and winter wheat fields in the districts of Cahul and Taraclia. The walnut trees were seriously affected, the almond, peach and apple trees were averagely affected, while the apricot and cherry trees and vines were slightly affected. The results were presented during a visit paid by deputy minister of agriculture and food industry Vasile Luca in southern Moldova.
● WEDNESDAY, May 3
Over 194,000 private individuals submitted tax returns
More than 194,000 private individuals who do not carry out entrepreneurial activities honored their obligation to submit tax returns for 2016, by about 35,000 more on a year before. Of these, more than 172,000 persons signed pre-completed statements. Over 16,000 private individuals presented the tax returns on paper, while over 6,000 in an electronic format.
● THURSDAY, May 4
Authorities aim to ensure balance in interests of producers and importers
The authorities aim to ensure a balance in the interests of national producers and importers so that high-quality products reach consumers. For example, in the case of products of animal origin, the import quotas are almost fully used. As a result, pressure is exerted on the national producers. Moreover, cases have been witnessed when the imports were of a doubtful quality. That’s why the competent authorities aim to strengthen the inspection capacities and to encourage local producers. Such statements were made in a roundtable meeting organized by the Ministry of Economy, the Ministry of Agriculture and Food Industry and the National Food Safety Agency.
Government approves bill on services concession
The Government endorsed a new bill on works and services concession amid the updating of the legislation on concessions. The provisions of the new law will apply to the concession of services and works for a period of at least five years, but not more than 35 years, whose estimated value, without VAT, is equal or higher than 1 million lei in case of services and 5 million lei in case of works. The law does not refer to services of general public interest, which are not economical in character.
Vulnerabilities that caused banking crisis persist, “Expert-Grup”
The first quarter of 2017 can be characterized by the continuation of the implementation of reforms launched in 2016 in the financial sector. The memorandum with the IMF was a key factor that served as a catalyst. However, the financial system continues to face difficulties related to bank ownership, including lack of buyers for the shareholdings exhibited for sale and insufficient competition in the banking sector, with pronounced concentration tendencies. The conclusions were formulated by experts of the independent think tank “Expert-Grup”.
Customs procedures in Giurgiulesti International Free Port to be simplified
The Customs Service will simplify the customs procedures in the Giurgiulesti International Free Port so as to increase the efficiency of the complex’s commercial activity. The phytosanitary and veterinary procedures applied during clearance will also be improved. The EU Border Assistance Mission to Moldova and Ukraine (EUBAM), in a news conference on May 4, presented the results of the study of customs procedures used at the Giurgiulesti International Free Port. Besides simplifying the clearance procedures, the study also recommends amending the legal and regulatory framework applying to the Port and modernizing infrastructure.
New National Bank forecast places inflation within targeted limits
The rate of inflation rose from 2.4% at the end of last year to 5.1% his March, being within the targeted limits set by the National Bank of Moldova, governor Sergiu Cioclea said on May 4. In March, the annual basic inflation rate was by 0.3 percentage points higher than a month ago, being of 4.6%. The basic inflation that cannot be influenced by the monetary policy also increased.
● FRIDAY, May 5
Fruit trees were affected differently from region to region
The plum, cherry and hazelnut trees were most seriously stricken by the late April snowfall. In some districts, the walnut trees were also seriously affected, mainly because of the separation of branches from the trunk. The flowers of trees in orchards situated on the lower parts of slopes were 90% to 100% afflicted. Both the ovaries and the young fruits turned black. Over 7-8% of the fruits were affected this way. In the middle parts of slopes, especially plane ones, the low temperatures affected 25-30% of flowers and small fruits, while on the upper parts these weren’t damaged.
National Bank governor: Banking sector remains profitable
“The situation in the banking sector is much more stable at present following the measures taken by the National Bank of Moldova,” governor Sergiu Cioclea told a news conference on May 4. In the first quarter of this year, the value of assets in the banking sector rose by 1.5% to 74.05 billion lei. The sufficiency of capital, even if it’s lower than last yearend, is very comfortable, of about 30%, against the norm of 16%. The volume of loans provided by banks fell by 1.6%. The toxic loans constitute about 16%, but the figure tends to decline, stated Sergiu Cioclea, noting that the banking sector remains profitable.
Involvement of women in agribusinesses brings benefits to economy, deputy minister
The involvement of women in agribusinesses brings benefits to the economy, Deputy Minister of Agriculture Iurie Usurelu said in the national forum of associations of female agricultural entrepreneurs held on May 5. The deputy minister noted that the women entrepreneurs showed by many examples how a business should be managed in Moldova. The activities that involve women produce good results. In this connection, Usurelu called on the women to more actively become involved in businesses and to occupy the free niches. “In the agricultural sector, we have rather interesting projects: beekeeping, animal breeding, growing of different crops. Regrettably, the available funds are not accessed. It is possible to do business in the Republic of Moldova. All the financing will be yet reduced to zero if there is no courage, determination and wish on your part to do something for our country,” stated Iurie Usurelu.
● SATURDAY, May 6
Food safety system should be modernized to ensure access to EU market, official
To extend the range of agrifood products intended for export, the food safety inspection system should be strengthened, said the director of the National Food Safety Agency Gheorghe Gaberi. In an interview for Radio Free Europe, the official stated that this system should be modernized and adjusted to the European requirements so as to ensure access to the EU market. Gheorghe Gaberi said the National Food Safety Agency needs to be reorganized to meet the European standards. All the inspection procedures should be adjusted to the EU requirements and a network of internationally accredited labs should be created to ensure proper food safety control. The Agency’s personnel should be taught modern control methods and information systems should be implemented to substantially reduce the time needed to obtain required certificates for products intended for internal use and for export.
