The Moldovan Government has approved the draft 2023 social insurance budget, providing for 38.7 billion lei in revenues, up about 7.5 billion lei on this year’s budget.

Revenues and expenses of the 2023 state social insurance budget are estimated at 12.5% of GDP. Of its total revenues, transfers from the state budget will make up 44.3%, or 17.1 billion lei. Mandatory state social insurance contributions are estimated to constitute 21.1 billion lei.

Vasile Cușcă, state secretary at the Ministry of Social Protection, explained the high percentage of stat budget transfers are due to the fact that many social assistance benefits that are provided from the state budget are to be processed and paid through the National Social Insurance Company.

Individuals outside the mandatory social insurance scheme will have to buy a basic annual contract for 14,700 lei, and in the case of individual small farmers the annual contract will cost 3,744 lei.