● TUESDAY, February 7
Fuel prices go up
The National Agency for Energy Regulation announced the new fuel price ceilings for the next two weeks. Starting with February 8, the price ceiling for a liter of gasoline will be by 0,04 lei higher, while that for diesel fuel by 0,13 lei higher.
First Mobiasbanca Mortgage Center inaugurated in Chisinau
Private individuals will be able to apply for mortgage loans for purchasing, building or modernizing homes within the first Mortgage Center in Moldova inaugurated by the commercial bank Mobiasbanca – Groupe Société Générale. In the inaugural event, Ridha Tekaia, President of the Management Board – CEO Mobiasbanca, said the Mortgage Center is designed to help Moldovans purchase a home, while Mobiasbanca is the leader in mortgage loans with a 36% market share by the number of loans granted in 2016. “We became reliable partners for our customers and, with the new Mortgage Center, we intend to support them even more, provide them with the necessary consultancy and assistance from A to Z in the process of selecting and procuring their new home, as well as the most advantageous loan terms,” he stated.
● WEDNESDAY, February 8
IMF mission’s visit coincides with bank monitoring period
Some of the commitments assumed by the Government of Moldova through the agreement with the International Monetary Fund are being fulfilled and it is not known how the Fund’s team of experts who will come to Moldova on February 14 for the first review of Moldova’s IMF-supported program will react, commentator Vlad Bercu stated in the program “15 minutes of economic realism”, referring to the ‘diagnosis’ of loans released to affiliate persons and shareholders of banks.
Restrictions on drug store opening to be lifted
The distance of at least 250 meters of an existing pharmacy or 500 meters of a dispensary will no longer be a requirement when founding new drugstores and branches. The given obligation is lifted by a bill to amend the Law on Pharmaceutical Activity that was approved by the Cabinet.
● THURSDAY, February 9
Vignette to be paid online
Prime Minister Pavel Filip raised the subject of vignette payment at border crossing points in the February 8 meeting of the Cabinet. „I asked to determine what’s going on in the customs posts when lines are formed there owing to the vignette payment procedure. I asked the Ministry of Finance, the Ministry of Transport and Road Infrastructure and the Customs Service to identify solutions for the vignette payment procedure not to represent a barrier when crossing the border,” stated the Premier.
Cabinet agrees changes to 2017 state budget
The revenues and expenditure of the state budget for 2017 will be increased by 385.9 million lei each. The budget deficit will yet remain unchanged. The most important changes include the increase in the allocations from the state budget to local budgets and the allotment of a part of the road fund to these. Thus, the allocations for the Ministry of Transport and Road Infrastructure were reduced by 350.3 million lei and this money will be transferred to the local public authorities of the second level for managing district roads. The amounts transferred to the local budgets of the first level will be raised by 385.9 million lei as a result of the exclusion from the Law on Local Public Finances of the deductions from the tax for using roads by motor vehicles registered in Moldova. The sum is included in the state budget revenues.
Central bank penalizes former managers of BEM and Unibank
The executive committee of the National Bank of Moldova decided to impose penalties in the form of the highest fine of 100,252 lei, which represents ten average salaries in the financial sector, on two ex-members of the Board and executive body of Banca de Economii and Unibank
Transnistrian businessmen protected from illegal criminal prosecution
The institution of criminal proceedings with the aim of hampering the activity of businessmen will be punished with jail terms in the Transnistrian region. Such a provision is contained in a bill to amend the Transnistrian Penal Code that was adopted in the first reading.
● FRIDAY, February 10
Twinning project in support of national food watchdog
Swedish, Lithuanian and Latvian experts will provide assistance to the National Food Safety Agency in the process of adjusting the national legislation to the EU food safety, veterinary and phytosanitary policy. This assistance and other planned activities form part of an EU-funded Twinning project to the value of €2m.
Government’s role is to offer good conditions for all the sectors, German expert
The downward trend as regards agriculture’s share in the GDP will persist in the immediate period. However, the role of the manufacturing sector, textiles and car spare parts production will increase, considers Jorg Radeke, team manager of the German Economic Team Moldova. The Government’s role is to offer good conditions for all the sectors, the expert stated. “We speak about anti-corruption measures, supremacy of the law and a favorable investment climate. We speak about a balanced legislative framework: not too many and not too few rules,” stated Jorg Radeke. He noted that only after these rules are ensured, can we discuss the method by which the Government can intervene in particular areas of the economy.
● SATURDAY, February 11
EIB launches new scheme to support SMEs
The European Investment Bank (EIB) has a new support program for small and medium-sized enterprises in Moldova, Ukraine and Georgia. The program, which is available to countries that have signed an Association Agreement with the Union, was launched in Kyiv on February 9. The EU’s contribution is part of the European Commission’s wider EU4Business initiative, which brings together EU-funded programs supporting SME development and improving the business environment in Eastern Partnership countries. The Delegation Agreement foresees the provision of €2.8m for risk capital operations, €7.8m for technical assistance and €49.7m for guarantees through the EIB and the European Investment Fund.
Moldova between rights offered by WTO and bilateral relations with Russia
Moldova didn’t make use of the right to sue the Russian Federation as a result of the ban imposed by this in 2014. The country had this right and would have transmitted an important signal to the Russian Federation this way, Jorg Radeke, team manager of the German Economic Team Moldova. The Government of Moldova asked for the opinion of the German Economic Team Moldova about the way in which it should act. Among the received pieces of advice are taking measures to reorient exports to other markets and taking legal action within the World Trade Organization (WTO). The expert said Moldova had the right to institute legal proceedings over the violation of the right of access to a market because even the Russian Federation must play by the rules.
