● MONDAY, January 15
Tourism can bring higher revenues into state budget if all players act concertedly
The tourism sector can bring higher revenues into the state budget if all the players from the field act concertedly and if more is invested in tourism infrastructure, including from budgetary sources, stated the director of the Tourism Agency of Moldova Stanislav Rusu. “Capital investments are not made today. Even if such are made, these are intended for social facilities. Tourism is poorly financed,” Stanislav Rusu stated. The Tourism Agency director drew a parallel with Romania, Bulgaria and Poland, which invested a lot in tourism infrastructure. When Romania obtained the status of candidate for EU membership, funds of millions of euros for tourism promotion opened up to it. Regrettably, Moldova does not have access to such European funds. “That’s why it is too early to expect a boom in the sector. Particular organizations and international projects are supported, but these focus strictly on the organization of training courses, local strategies and financing of tourist projects at the level of 50%,” stated Stanislav Rusu.
External grants projected at 7.7% of state budget revenues in 2018
The external grants that will enter Moldova’s state budget this year will come to 2.83 billion lei, which is 7.7% of the total revenues. The given sum includes budget support grants totaling 2.19 billion lei and grants intended for projects financed from external resources amounting to 640.8 million lei. The grants from the governments of other states represent 2%, while 98% will be provided by international organizations. The European Commission is the main donor in 2018. This will offer grants to the value of 2.46 billion lei (€118.2m), which is 86.9% of the external grants designed for Moldova.
● TUESDAY, January 16
Russian ban made Moldovan winemakers review quality standards
The ban imposed by Russia on the imports of Moldovan wines made the national wine companies review the quality standards and look for new, safer markets, shows an analysis carried out by the Institute for Development and Social Initiative “Viitorul”. Such a situation was witnessed after the signing of the Deep and Comprehensive Free Trade Agreement with the EU. The top five EU states to which Moldova exports the largest quantities of wine are: Romania – valued at US$3.46 million, Poland – US$ 3 million, the Czech Republic – US$2.3 million, the UK – US$ 0.92 million, and Hungary – US$ 0.85 million.
Eight villages in Hancesti district choose to use green energy
Eight village of Hancesti district have connected their education institutions and mayor’s offices to biomass heating systems, replacing thus the gas- and coal-fired heating systems. Two of the villages applied green energy at all the public institutions. The initiative was supported through the EU-funded Energy and Biomass Project, IPN reports, with reference to a press release of the implementation team. The investments in Hancesti district consist of €518,000 European funds and €188,900 local contributions. The eight villages are: Carpineni, Crasnoarmeiscoe, Cotul Morii, Dancu, Dragusenii Noi, Loganesti, Boghiceni, and Obileni. Twelve public institutions of the district are now heated with biomass energy, while two have solar hot water panels.
Size of public property rental in 2018
The basic annual rental for a square meter of area in Chisinau municipality this year is 336.5 lei, as opposed to 322.6 lei last year. In Balti municipality, the rental is 238.6 lei, by 9.8 lei more than last year. In other towns, the basic rental is 173.5 lei/m2, in suburban settlements that form part of municipalities – 130.2 lei/m2, while in villages – 43.5 lei/m2. The basic tariff for a square meter of area is an important element in determining the minimal annual rental for using publicly owned areas. The rental is set depending on such coefficients as location of the spaces (separate room, annex, basement), public amenities (water supply, sewerage, hot water), purpose of the areas (workshop, production company, drugstore, newspaper) and market coefficient.
Banca Transilvania becomes shareholder of Victoriabank
Banca Transilvania has become a shareholder of Victoriabank, the third largest bank in the Republic of Moldova, with a total participation of over 66% alongside the European Bank for Reconstruction and Development, IPN reports, with reference to a press release signed by Laura Petrehus, vice director of the Communication and PR Department of BT, based in Cluj Napoca, Romania. BT and EBRD are majority shareholders and strategic partners of Victoriabank, which wish to support the entrepreneurs and the economy of the Republic of Moldova. It is for the first time in the past 10 years that a bank outside the Republic of Moldova is investing on this market, as BT is paving the way for future investments in the neighboring country.
● WEDNESDAY, January 17
Banca Transilvania’s investment is a start for attracting investments to sector, experts
The investment made by Banca Transilvania of Romania in Moldova’s Victoriabank is a good start for attracting other investments to the Moldova banking sector, said experts invited to the talk show “People’s Council” produced by 10TV channel. “A door was opened and the go ahead was given for other investors in the banking system of Moldova and this thing is a signal of stability. Banking stability is gradually established. This is like oxygen for the business community,” said Gheorghe Costandachi, head of the European Social-Political Center.
Cabinet rejects bill to provide fiscal stimuli to entrepreneurs in Dubasari district
The Cabinet didn’t support the proposal to implement additional measures to support entrepreneurial activities in Dubasari district on the left side of the Nistru. The legislative initiative was submitted by a group of Mps. The bill provides for the exemption from the income tax imposed on entrepreneurial activity and for the institution of zero VAT. According to the Ministry of Finance, the provision of fiscal stimuli to only some categories of taxpayers will lead to greater fiscal inequity and to the distortion of the national tax system and more difficult tax administration. Fictitious business entities could be registered to benefit from preferential treatment.
Branch of Moldova-Agroindbank robbed
Approximately €16 000 was stolen from a branch of the commercial bank Moldova-Agroindbank located in Baurci village of the Autonomous Territorial Unit of Gagauzia. According to Gagauz press reports, which make reference to the mayor of Baurci Nicolae Carapirea, an attempt to rob the same branch was made last November.
● THURSDAY, January 18
Moldovan leu expected to further appreciate against foreign currencies
The Moldovan leu this year will continue to appreciate against foreign currencies , while the difference between the values of the dollar and euro will remain at 1.2 lei, said experts invited to the talk show “Key issue” on NTV Moldova channel. Roman Chirca, director of the Market Economy Institute, said the surplus of foreign currencies on the domestic market will persist this year and the leu will continue to strengthen. In 2018, the euro will be more stable and powerful than the dollar. “We now witness, on the one hand, the rise in the price of oil, and, on the other hand, the depreciation of the dollar. Most probably, the euro will be more powerful than the dollar,” he stated.
New financial monitoring rules for state-owned companies
The Cabinet approved the regulations concerning the financial monitoring of self-managing public authorities, state-owned enterprises and commercial organizations with complete or majority state capital. According to Minister of Finance Octavian Armasu, the authorities aim to implement the recommendations of the Court of Auditors and to supplement the process of financial monitoring with new sources of information. It is about reports on the size and circulation of public property and the exercise of the duties by persons empowered to represent the state/territorial-administrative units.
Legislation on renewable energy to be adjusted to Community acquis
The legislation on the use of renewable sources of energy will be adjusted to the Community acquis. The Cabinet approved a bill to amend and supplement a number of relevant legal acts in its January 17 meeting. Under the bill, the Government is to set down rules for organizing and holding tender contests to choose companies willing to produce electric power from renewable sources of energy so as to encourage competition among large investors.
59 persons and companies fined for irregularities in electronic communications sector
The National Regulatory Agency for Electronic Communications and Information Technology last year penalized 59 private individuals and legal entities for committing irregularities in the electronic communications sector. Among those penalized are 17 persons who connected themselves or allowed to be connected illegally to the cable television networks. The fine oscillated between 1 500 and 4 500 lei. A number of 28 providers of electronic communications networks and services were fined 6 000 to 12 000 lei for not respecting the general authorization conditions.
There are preconditions for reducing natural gas tariff by 30%, experts
There are preconditions for reviewing the natural gas tariff and decreasing it by 30%, said energy experts, who requested the National Agency for Energy Regulation to stage a public meeting to consider this possibility. In a news conference on January 18, Sergiu Tofilat, expert of “WatchDog” community, said that a year ago the Agency should have reviewed the natural gas tariff down. Owing to this delay, the consumers unreasonably paid over 1 billion lei in 2017. This delay is political in character and the government will most probably leave the adjustment of the tariff for autumn, when it will be closer to the parliamentary elections. Until then the people will unjustifiably pay another 800 million lei.
● FRIDAY, January 19
Mandates of temporary administrators of “Moldindconbank” extended
The Executive Committee of the National Bank of Moldova decided to extend the mandates of the temporary administrators of the commercial bank “Moldindconbank” SA for a period of six months, starting with January 20. According to the National Bank of Moldova, the temporary administrators exercise their mandate under the early intervention regime applied at BC “Moldindconbank” SA as from October 20 2016, as a result of the concerted activity of a group of persons holding a qualifying holding in the bank’s share capital in the amount of 63.89 percent, without the prior written permission of the National Bank.
Low temperatures can reduce reserves of nutritive substances in plants
The Ministry of Agriculture, Regional Development and Environment said the minimum temperatures of -10°C in central Moldova, -12°C in the north of the country and -9°C in the southern districts recorded during January 14-17 can reduce the reserves of nutritive substances in plants. The wheat, barley and rape are cultivated in Moldova in the greatest amounts. These can resist critical temperatures without being covered with snow for 2-3 days. Wheat can resist temperatures of -17°C, barley of -15°C, while rape of -12°C.
TRANS OIL to invest US$ 2m in new grain loading line
The group TRANS OIL announced its intention to this year invest US$ 2 million in the construction of a new pneumatic grain loading line that will unite the Trans Cargo terminals on the Prut and on the Danube. Trans Cargo Terminal manager Mihail Redichin said that when the new pneumatic line is launched, the ships could be loaded with grains in the terminals on the Prut and the Danube, regardless of the storage place in the port. “This will make the work of our terminals more mobile and swift, while the general load capacity in the port will increase owing to the improvement of this activity. In the first half of last year, there were loaded over 485,000 tonnes of grains, legume seeds and oil bearing seeds,” stated the manager.
● SATURDAY, January 20
Petru Macovei: Advertising market works according to rules that are not know by anyone
The advertising market works according to rules that are not known by anyone, considers the executive director of the Independent Press Association Petru Macovei, who said that such a conclusion was reached after two advertising houses signed an unfair agreement by which they offer a reduction to clients that choose to place publicity only through their agency, sharing the money 80% to 20%. “The created situation shows two things: the advertising market in the Republic of Moldova continues to work according to rules that are not known by anyone. The rules are not very clearly set down and followed, while the Competition Council does not exercise its role on the audiovisual segment,” Petru Macovei stated in the program “Black box” on TV8 channel.
Loans repayable in two to five years are most popular
The most popular loans in foreign currency last December were the loans repayable in two to five years. These represented 46.63% of all the loans in foreign currency. These are provided at an average interest rate of 4.72%. According to the National Bank of Moldova, in the reporting month the new loans in foreign currency included mainly loans released to private individuals. These represented 99.38% of all the loans in foreign currency. The loans released to legal entities made up 68.34% of the new loans in national currency.
