Minister of Finance Octavian Armasu is the first member of the Cabinet who completed and submitted the property and personal interests statement for 2017. Last year was a good one for Armasu’s family that earned 1 155 718 lei, €84 736 and US$ 327, IPN reports, with reference to the paper Ziarul de Garda.

When the statement was presented, the Armasu family had 766 292 lei, €109 470 and US$33 446 in bank accounts. Octavian Armasu declared €38 000 inherited from Pavel Armasu, who is most probably his farther. In 2017, the minister bought a new Volvo XC60 made the same year for €44 727.

Octavian Armasu earned 158 734 lei in salaries as minister, which is about 13 200 lei a month. His wife Elena Armasu, who is the representative in Moldova of the pharmaceutical company ”Bayer” SRL, declared 785 459 lei in salaries.

The minister’s family earned over 59 000 lei in interest on the money deposited in banks, almost 1 million lei from the sale of a car, an apartment and a shareholding in “Rustgal” SRL.

The minister made another 150 000 lei after leasing out owned farmland. Octavian Armasu possesses 139 plots of farmland, 17 of which were bought in 2017.

The Armasu family declared two apartments, two villas and two garages, which he also declared a year before. The minister owns shares in Franzeluta SA, BC Victoriabank SA, Banca de Economii SA and Agro-SZM SRL.

Octavian Armasu was invested minister on January 20, 2016. Before joining the Cabinet, he worked as the financial director of the leading sugar producer “Südzucker” Moldova and was also a member of the company’s Administration Board.