● MONDAY, March 14
Russia bans import of Moldovan agrifood products through Belarus
The Russian Federation banned the import of Moldovan agricultural products through Belarus. The Federal Service for Veterinary and Phytosanitary Surveillance (Rosselkhoznadzor) announced temporary restrictions on the import into Russia of Moldovan vegetal products through Belarus. The restrictions took effect on March 14. Now the agrifood products with Moldovan certificates can be imported only through Russian checkpoints situated in Belgorod, Kursk and Briansk. According to the online variant of the newspaper “Rossiskaia Gazeta”, Rosselhoznadzor took such a decision following a substantial rise in transportation by “difficult logistic ways”, especially through Belarus, after it allowed a number of Moldovan companies to export agricultural products to Russia.
Three sorts of corn produced in Moldova validated in EU
The Bucharest State Institute for Varieties Testing and Registration decided to include three hybrid corns produced by scientists of the Institute of Phitotechny “Porumbeni” of Moldova in the State Register of Romania. According to a press release of the Moldovan Institute, the testing conditions provide that the hybrid (sort) is considered satisfactory in terms of utilization and agronomic value if it is more productive than other sorts included in the official Catalogue and the humidity of its grains is at the average level per area. The sorts had been monitored and examined for two years (2014-2015) by Varieties Testing Centers situated in different ecological conditions of the country.
Extended work program for receiving tax returns
The fiscal bodies of the Tax Inspectorate of Chisinau municipality will have an extended work program between March 19 and March 25. The move is aimed at ensuring favorable conditions for receiving tax returns by the March 25 deadline. In a press release, the State Main Tax Inspectorate says the local offices will work on March 19 inclusive, between 8am and 4pm. On March 21-24, the workday will last by 7pm, while on March 25 it will close at 8pm.
Good news for patent holders
Restoring the entrepreneur’s patent when this is lost will cost 20 lei, not the size of a minimum salary, as now. The patent could be restored by filing an application to the authority that issued it. Such provisions are contained in a bill to amend and supplement legal acts concerning the implementation of the fiscal, customs and budgetary policy for 2016, which was approved by the Government. A new paten will be issued within ten days of the submission of the application. The period during which the holder could not benefit from patent cannot be yet restored. The patent holders are taxed by the price paid for a patent. This includes the income tax, the tax for natural resources and the tax for the commercial unit in case of trading activity. The price of patent does not include the state social insurance contributions, which are paid individually by patent holders. Also, the patent holders must purchase a mandatory health insurance policy.
● TUESDAY, March 15
Recommendations for NAER concerning new method of applying fuel prices
The conception of the new methodology for applying fuel prices, worked out by the National Agency for Energy Regulation (NAER), is welcome in the current conditions, but a more attentive calibration of all the variables included in the formula is needed, considers Vadim Gumene, programs director at the independent think tank “Expert-Grup”. In a comment, the expert says that such initiatives necessitate very thorough reasoning based on empirical estimates, by including models and scenarios that would anticipate the modification of the statu-quo. The comment author says the current methodology turned out to be inefficient in the process of regulating the oil products market of Moldova. In this connection, the necessity of amending the regulatory framework by working out methodology that would exclude useless regulations and provisions becomes evident. This would also lead to its simplification, simultaneously with the possibility of imposing an autonomous character in case of applicability and of increasing the role of independent regulator in the field.
Increasing number of subscribers choose digital pay television
The number of subscribers to digital pay television during a year rose by 5,000 (3.8%) to over 138,100, which is more than half of the total number of subscribers to pay TV. According to the statistics for 2015 provided by the national ICT regulator (ANRCETI), the number of subscribers to pay TV last year increased by 0.3% to 274,900. Of these, 75% were subscribers to cable TV, while 25% - to IP TV. According to the data of the 83 active providers of pay TV services, the number of subscribers to IP TV grew by 6,100 (9.8%) on 2014 to about 68,800, while the revenues from this service rose by 2.8 million lei (5%) to over 58.1 million lei.The number of subscribers to cable TV fell by 3,100 (1.5%) to 206,100, while the revenues from this service decreased by 9.5 million lei (9%) to 97.5 million lei. As a result, the monthly average revenue per user of pay TV increased by 0.9% to 48.2 lei.
Appointment of new National Bank governor welcomed in Brussels
European Commissioner for the Euro and Social Dialogue Valdis Dombrovskis welcomed the appointment of Sergiu Cioclea as governor of the National Bank of Moldova. This issue and the economic and social policies were discussed by Prime Minister Pavel Filip and Valdis Dombrovskis in a meeting. According to the Government’s press service, the discussions centered on the macroeconomic framework, the restoration of the dialogue with the IMF and the measures taken by the Moldovan authorities to stabilize the financial-banking sector. In particular, the two officials discussed the amendments proposed by the Government for strengthening the independence of the National Bank of Moldova and of the National Commission for Financial Markets and the creation of the common depository. In this connection, Commissioner Dombrovskis welcomed the appointments of the new National Bank governor and the measures taken to strengthen the independence of regulators.
● WEDNESDAY, March 16
Experts warn about necessity of clear view on development of agriculture
A number of strategies for developing the agricultural sector were worked out during the last few years, but no essential changes occurred in this field, said experts who took part in an economic debate centering on the situation in agriculture and the prospects of developing the sector. Viorel Chivriga and Ion Tornea, of the Institute for Development and Social Initiatives “Viitorul”, explained that such a situation is due to the lack of a clear view on the development of agriculture. “There were many strategies, but the effects produced by these were very small,” said Viorel Chivriga. According to him, this is due to the inability of the responsible institutions to work out policies that would contribute to the modernization of the sector, the improvement of performance in agriculture and, consequently, to higher revenues in agriculture.
Farmers’ associations announce new protests
Representatives of the associations “UniAgroProtect”, “Agroinform” and “Moldova-Fruct” and of the National Farmers Federation of Moldova plan to resume the protests so as to draw the authorities’ attention to farmers’ problems. These told a news conference that the agricultural sector is in a precarious state, but the government, instead of helping the farmers, impoverishes them more by proposing increasing the land tax. Valeriu Cosarciuc, who heads the National Farmers Federation of Moldova, said the government, in the budgetary-fiscal policy for this year, suggests raising the land tax and VAT on spare parts. “The farmers look for spare parts more and thus will incur larger costs. The subsidization is also unclear. In agriculture, the situation is precarious following the government’s actions. We, the members of farmers’ associations, are used to simulate a dialogue with civil society. We are summoned to all kinds of meetings and are asked our opinion, but our proposals are not taken into account,” he stated.
National Bank wants access to registers of securities holders, experts
The National Bank of Moldova is trying to impose its position on the capital market by becoming a regulator and, simultaneously, the owner of a part of this market’s infrastructure, experts of the Institute for European Policy and Reforms say in an analytical note. According to them, the central bank wants access to the registers of securities holders of Moldova. The Institute’s economists reached such a conclusion after Parliament on February 25 adopted in the first reading a bill to amend and supplement a number of legal acts (Law on the National Bank of Moldova, Law on the National Commission for Financial Markets, Law on the Capital Market, etc.). Among others, the bill also refers to the activity of the central depository, which is a component part of the infrastructure of the capital market and which deals mainly with the clearing of financial instruments.
Transnistrian ruble expected to depreciate by 30%
The Transnistrian administrator anticipates that the ruble will depreciate by 30% because of the lower inflows of currency. In this connection, the so-called executive of the Transnistrian region asked to prepare a package of amendments to deal with the possible consequences of the depreciation. Alevtina Slincenko, first deputy head of the executive, was quoted by the Transnistrian portal “Novostipmr” as saying that amendments will be made to the normative documents concerning prices, internal trade, labor, etc.
Customs Service warns that Sculeni customs post is congested
The Customs Service of the Republic of Moldova warns the business entities that plan to cross the state border through the Sculeni customs posts to use other checkpoints located on the Moldovan-Romanian border because maintenance works on the information system of Romania were performed at this post and dozens of large trucks formed lines there. According to a press release of the Customs Service, the works were carried out by the General Customs Directorate of Romania to relocate the technical infrastructure for managerial reasons.
● THURSDAY, March 17
EBRD, EU increase support for SMEs and women entrepreneurs in EaP countries
The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are strengthening their support for small and medium-sized enterprises (SMEs) and women entrepreneurs in the Eastern Partnership countries, which include Moldova. According to a press release of the EBRD, the European Union is providing €8 million to support the extension of business advice to SMEs in the six countries over several years that will enable small businesses to access advice through local consultants and international industry advisers in a wide range of areas including strategy, marketing, information technology and energy efficiency. Forty per cent of advisory projects in Georgia, Moldova and Ukraine will be related to helping small businesses unlock new opportunities under the Deep and Comprehensive Free Trade Area (DCFTA).
Audit Office to audit companies in which state owns at least 1/3 of share capital
The Audit Office of the Republic of Moldova will be able to carry out external audits at the state-run companies in which the state owns at least 1/3 of the authorized share capital. A bill to this effect was passed by Parliament in the final reading on March 17. According to the authors - a group of unaffiliated MPs – now the Audit Office can audit only joint stock companies in which the state owns 50% of the share capital. Initially, the authors proposed the figure to be decreased to 20%. However, as a result of debates in Parliament, the figure was set at 1/3.
Întreprinderile de stat vor publica anual rapoarte financiare
Întreprinderile de stat şi cele în care statul deţine majoritatea capitalului social vor fi obligate să publice anual, până pe 30 aprilie, raportul auditului financiar pentru anul precedent. Un proiect de lege în acest sens a fost înaintat de un grup de deputaţi neafiliaţi şi votat în lectură finală de către 80 de parlamentari, joi, 17 martie. Raportul publicat va conţine informaţii despre situaţiile financiare, inclusiv despre salariile conducerii întreprinderii, despre activitatea conducerii. De asemenea, se cere şi o descriere a performanţelor, dar şi a riscurilor cu care se confruntă întreprinderea.
Exchange rate of Transnistrian ruble against dollar jumped from 11 to 16
The currency crisis in the Transnistrian region is expanding. During two-three days, the exchange rate of the Transnistrian ruble against dollar leaped from 11.1 to 16 on the black market. Transnistrian economic expert Sergei Melnichenko in an interview for Radio Free Europe said the regional currency market got into a panic and illegal traders in currency appeared. “On Tuesday, the official exchange rate set by the central bank wasn’t 11.1 rubles as it had been during the past year, but 11.3 rubles, which is the bank used the maximum margin planned by the supreme soviet for the whole year. So, the annual limit of depreciation was thus reached,” said the expert.
Income tax will be paid using IBAN code
March 25 is the deadline for submitting tax returns for 2015 and for paying the income tax. The State Tax Service warns the taxpayers that the payments from January 1 this year are done using mandatorily the IBAN (International Bank Account Number) code. The tax inspector who will receive the tax return will communicate the IBAN code by which the income tax can be paid to the taxpayers. A number of institutions with which the Ministry of Finance signed relevant contracts will freely manage the payment of the income tax by private individuals. These are “Agroindbank”, “Moldinconbank”, “Eximbank - Gruppo Veneto Banca” and Moldova’s Post Office. Thus, if the income tax is paid through “Moldinconbank”, “Eximbank - Gruppo Veneto Banca” and “Moldova’s Post Office”, the person is obliged to present the identity card and the IBAN code. “Agroindbank” also requires a completed form entitled “Request for payment collection”, which includes the IBAN code. The form is available from the local tax office.
“Wine of Moldova” brand popular at exhibition in Dusseldorf
For the third consecutive year, the Moldovan wines managed to surprise the visitors of the world’s most professional trade fair for wine and spirits “ProWein 2016”, which was held in Dusseldorf on March 13-15. Moldova’s stand hosted the best 200 wines, cognacs and sparkling wines made by 30 national wine companies. This attracted over 2,000 visitors. According to a press release of the National Office of Vine and Wine, the products were presented under the country brand “Wine of Moldova. Living legend”. “We aim our efforts at promoting the Moldovan wines abroad so as to increase exports of products with high value added,” said Deputy Minister of Agriculture and Food Industry Vasile Luca.
● FRIDAY, March 18
Farmers to import diesel fuel directly
The farmers will be able to import diesel fuel directly. The Ministry of Agriculture and Food Industry said the fuel consumption norm per hectare of farmland for a technological cycle was set. The authorization for the import of diesel fuel will be issued by the National Agency for Energy Regulation. Thus, in order to obtain an authorization for the import of diesel fuel, the farmers will lodge a relevant application and other required documents with the Agency. The methodology for calculating the fuel consumption norm for tractors and combines for performing agricultural works was thought up by the Ministry of Agriculture in cooperation with the National Institute of Economic Research. Based on this methodology, the fuel consumption norm per hectare of farmland, when using standard technology, was set at 110.96 liters per technological cycle.
Pavel Filip: We aim to conclude an agreement with IMF this year
Prime Minister Pavel Filip believes that an agreement with the International Monetary Fund that will help unlock the funds provided by other development partners to Moldova can be signed this year. He made such statements in the program “Moldova live” on the public TV channel Moldova 1. “The Republic of Moldova will have an agreement with the IMF. Before this, we are to reach a so-called Staff Level Agreement with the IMF. You know that the IMF mission was in Chisinau and we had very constructive discussions with it. In fact, we worked out a roadmap concerning the relations with the IMF and I want to say that I’m personally satisfied with the way the relations with the Fund develop now. There is great predictability. We know what we have to do, but I want to say that most of the conditions were met and we will now move on so as to conclude this agreement with the IMF. Immediately afterward, we will be able to apply for macro-financial assistance and we discussed this issue with Commissioner Valdis Dombrovskis in Brussels. I count a lot on this assistance,” said the Premier.
Procedure for starting trading businesses to be simplified
A trading business could be started during a day after submitting a notification to the local public authority. This is provided in a bill to amend and supplement the Law on Internal Trade and other legal acts that was approved by the Cabinet. Currently, a trading authorization can be obtained during over two months and the file submitted to the mayor’s office includes seven authorizing documents such as certificates and permits issued by different authorities. When using the notification system, the business entities will interact only with the mayor’s offices, which will transmit information about the new traders to all the institutions through the one-stop shop.
● SATURDAY, March 19
Requirements for oil tankers sailing under Moldovan colors
The oil tankers with the capacity of at least 5,000 tonnes that sail under the Moldovan colors and intend to operate in EU ports will be obliged to have a double hull. The oil tankers from third countries that intend to enter and operate in the Giurgiulesti Port Complex must also have a double hull. Deputy Minister of Transport and Road Infrastructure Vitalie Rapcea explained that the given requirements and other standards for simple tankers are set in the context of the commitments assumed by Moldova through the Association Agreement with the EU and of the adjustment of the national transport norms to the European ones. The EU is concerned and repeatedly signaled that the maritime accidents involving oil tankers pollute the coastlines and cause irreparable damage to the flora, fauna and other maritime resources.
China to offer Moldova a grant for economic development
The Government of the People’s Republic of Chain will offer Moldova a new grant to foster the country’s economic development. The Government of Moldova approved a decision to initiate negotiations to sign the relevant agreement on non-reimbursable technical assistance. Thus, the Government of China will offer Moldova a grant of de 60 million Yuan (about US$9.25 million). The Moldovan Government’s secretary general Tudor Copaci said that Moldova and China are implementing a number of joint projects in different areas.
