● MONDAY, September 5
Excise duties on diesel fuel could be fully covered for small and medium-sized farmers
The state could fully cover the excise duties on diesel fuel for small and medium-sized farmers and in the amount of 30% for large farmers who have assets of over 50 million lei and high financial potential. The measure comes to alleviate the negative effect of the rise in the price of diesel fuel and forms part of a package of urgent measures aimed at reducing the negative impact on farmers, Minister of Agriculture and Food Industry Vladimir Bolea stated in a news conference. “To reduce the negative impact of the increase in the price of diesel fuel, it was decided to fully cover the excise duty on diesel fuel, which is 2.95 lei per liter of diesel fuel, up to 64 tonnes of diesel fuel that is used by a business entity,” said Vladimir Bolea.
Farmers demand a law to compensate them for losses
Farmers are reiterating their demand for a law that provides compensation for agricultural losses. This year’s drought has left many with a compromised harvest, but the impact is still difficult to estimate. Valeriu Cosarciuc, president of the National Federation of Farmers, says that there is no clear information about the state of corn, sunflower and other crops. Compensation for losses will allow farmers to start the new agricultural cycle and find prospects for the next year.
● TUESDAY, September 6
Direct flights to Tbilisi, Warsaw and Prague to become available
Air Moldova airline has announced the winter timetable with new direct flights, to Tbilisi, Warsaw and Prague. Flights to Tbilisi will be operated as from October 16 on Thursdays and Sundays, while from October 30 the frequency will rise to four flights a week. The flights to Prague will be operated on Tuesdays, Thursdays and Sundays. Details about the flights to Warsaw will be published soon.
Official reserve assets exceed US$4 billion
The official reserve assets at end-August were US$4.1 billion, an increase of US$457.27 million compared with the end of June, IPN reports, with reference to the National Bank of Moldova. The rise was determined by the disbursement of US$154.05 million in budget support by the institutions of the World Bank, of which US$143.41 million was provided within the Emergency Response, Resilience and Competitiveness Development Policy Operation. The increase was also influenced by the net interventions on the domestic currency market in the form of currency purchases ($108.7m).
● WEDNESDAY, September, 7
Andrei Spînu: If Gazprom does not interrupt contract, we will have better price for gas from October
October can come with good news for the energy sector of the Republic of Moldova. In accordance with the contract signed with Gazprom, the price calculation formula in October will be modified by swapping the share of the value of natural gas and oil. Deputy Prime Minister Andrei Spînu said that if Gazprom does not unilaterally end the contract, the new formula will generate a lower purchase price. At the same time, the official assured that the Government will help the citizens to cope with the higher gas bills by a complex subsidization mechanism.
Moldovagaz will ask NAER to raise gas rate to 29 lei
SA “Moldovagaz” by the end of September will file an application to the National Agency for Energy Regulation (NAER) whereby it will request this to increase the gas rate to 29 lei per cubic meter of gas for residential users. The president of the Administration Board of Moldovagaz Vadim Ceban said the rate of 29 lei does not yet include the price deviations. “The decision is to be approved by the state regulator in a public meeting. Currently, we are having relevant consultations with the National Agency for Energy Regulation given the adjustments that are to be made to the normative documents on price approval,” stated Vadim Ceban.
First tender contests for large renewable energy projects to be announced in November
The first tender contests for investments in large renewable energy projects will be announced this autumn in November, Deputy Prime Minister Andrei Spînu, Minister of Infrastructure and Regional Development, stated in the ordinary meeting of the Cabinet. According to the official, there is an increased interest in large projects. Amendments will be designed to the law on the promotion of the use of energy from renewable sources. Later, these will be sent to Parliament for examination.
Cabinet approves program to attract remittances “PARE 1+2”
The Government approved the program to attract remittances to the economy “PARE 1+2”. The new program, in the 1+2 formula, comes to supplement the program “PARE 1+1” and offers financial support for developing businesses started by migrants. The program was designed by the Ministry of Economy and the Organization for the Development of Entrepreneurship. The beneficiaries will be able to obtain financial support in two stages. At the first stage, non-reimbursable assistance will be provided based on the “1+1” rule, which is each leu invested from remittances will be supplemented with 1 leu within the program. The maximum value of the grant will be 250,000 lei. At the second stage, non-reimbursable financial support for expanding businesses will be offered based on the “1+2” rule and will be intended for beneficiaries that successfully implemented the investment project at the first stage (including beneficiaries of “PARE 1+1” program) and intend to extend the economic operations by increasing production capacity, diversifying products, entering new markets, etc. The non-reimbursable assistance based on the “1+2” rule will be provided in the amount of up to 500,000 lei.
Minister of environment about permit issued to Moldovan Metallurgical Plant
The temporary permit valid until September 30 was issued to the Rybnitsa-based Moldovan Metallurgical Plant under a momentary compromise that was reached to satisfy the needs of citizens, Minister of Environment Iuliana Cantaragiu told a news conference. According to the official, it also goes to the price of electrical energy. Irregularities were identified at the Rybnitsa steel works and the Environment Agency therefore refused to issue an ordinary permit to this.
● THURSDAY, September 8
Vadim Ceban: Natural gas supplies after October 1 remain at Gazprom’s discretion
In accordance with the protocol signed with Gazprom, the audit to determine the debts of Moldovagaz is to be completed by October 1 but this is impossible. In such conditions, the continuation of the natural gas supplies after October 1 remains at Gazprom’s discretion, said the president of the Administration Board of Moldovagaz Vadim Ceban. According to him, the high purchase price makes the company to ask for a rise in the gat rate for end users so as to be able to make the payments to Gazprom and to cover the financial deviations.
Vladimir Bolea: We agreed with state institutions not to penalize farmers
The Ministry of Agriculture is endeavoring to come up with solutions for all the farmers affected by drought, said Minister Vladimir Bolea, responding to the request of some of famers’ associations to declare a state of emergency in agriculture and to support the farmers whose harvest was compromised by drought. The minister said they agreed with banks, importers of fertilizers and representatives of tax inspectorates to show indulgence to the farmers who cannot fulfill their obligations.
Insurance totaling over 391m lei paid in half a year
In the first half of this year, insurance companies paid insurance totaling over 391.3 million lei. The sum is by 27% higher than in the first semester of last year. The data of the National Commission for Financial Markets show insurance paid based on general insurance policies came to 369.6 million lei, representing 94.5% of paid insurance. Insurance paid based on life insurance policies represented about 21.6 million, up 29.2%.
● FRIDAY, September 9
Fuels will be cheaper next few days
The fuels will be cheaper during September 10-12. A liter of gasoline COR 95 will cost at most 24.24 lei, by 0.25 lei less than today. A liter of diesel fuel will be sold for 27.59 lei, down 0.27 lei. The National Agency for Energy Regulation said that the gasoline and diesel fuel prices decreased constantly the past week, by 1.60 lei/liter and 0.62 lei/liter respectively. The decline is due to the diminution of the Platts quotations on which the current methodology for determine selling prices is based given that Moldova fully imports the oil products.
Profit in banking system at 1.6bn lei in first semester
The banking sector in the first half of this year witnessed high liquidity and a rise in assets, loans, own funds and bank deposits. At the end of June, the profit in the banking system came to 1.6 billion lei, an increase of 80.4% compared with the same period last year. The National Bank of Moldova said that the increase in profit was due to the 1.4 billion lei rise in interest revenue (mainly from lending activity), the 249.8 million lei rise in revenues from differences in the exchange rate, the 243.8 million lei rise in revenues from honorariums and commissions.
● SATURDAY, September 10
Finance Ministry: Gas subsidies will be paid from grants provided by EU, Germany and Romania
The money needed to pay subsidies for natural gas will be taken from the grants provided by the foreign partners of the Republic of Moldova, said Minister of Finance Dumitru Budianschi. According to him, the state will partially cover the gas rate for residential customers from the €75 million provided by the EU, from a €40 million grant promised by the Government of Germany and from a €10 million grant announced by the Government of Romania. The Ministry of Finance said the state does not afford to borrow money to pay subsidies as the borrowed money is intended for investment projects.
Andrei Spînu after discussion with Miller: He doesn’t want audit deadline to be extended
If Gazprom halts the supplies of natural gas to Moldova, this will not happen owing to the audit, but due to the price calculation formula that will be modified on October 1 and under which Moldova is to pay a lower price, Deputy Prime Minister Andrei Spînu stated after having a telephone discussion with Alexei Miller. The chief of Gazprom refused to extend the period of the audit to determine the debts of Moldovagaz after October 1, but didn’t say it clearly if Moldova will be yet supplied with gas or not after this date.
After withdrawal of licenses, BEM, Banca Socială and Unibank collected over 2.8bn lei
After the withdrawal of their licenses, in the period between October 2015 and June 30, 2022, Banca de Economii, Banca Socială and Unibank collected a total of 2 804 346 lei. The National Bank of Moldova said the liquidators continue taking measures to collect outstanding debts. Between November 2014 and October 2015, the National Bank provided Banca de Economii SA, Bănca Sociale and Unibank with emergency loans secured by state guarantees totaling 14 121 758 lei.
