The Cabinet endorsed the bill that enables to redirect a part of the National Bank of Moldova’s profit to the state budget, depending on the size of the statutory capital, IPN reports.
“This law will enable to diminish the financial pressure on the state budget in the medium and long terms following the servicing of the state bonds issued in 2016, with the sum of the National Bank of Moldova’s profit available for distribution in a given financial year,” stated Minister of Finance Sergei Pușcuța. He noted that the bill was proposed for public debates and was consulted and agreed with the NBM and with the development partners.
The bill is to be submitted to Parliament.
President Igor Dodon announced the given initiative two weeks ago. Experts of the Independent Think Tank “Expert-Grup” said such a measure encroaches upon the central bank’s independence, compromises the capitalization efforts of the institution and does not represent a viable solution to the problem of state debt caused by the bank fraud.
