● MONDAY, October 23
Average rate on new deposits attracted in lei lower in September
The new fixed term deposits attracted in September came to 3.670,4 billion lei, down 2.3% on August. The deposits attracted in national currency represented 66.6% and totaled 2.446,1 million lei, an increase of 10.3% on a month before, IPN reports, quoting the National Bank of Moldova.
The average nominal interest rate on new fixed term deposits attracted in lei was 4.29%, by 0.23 percentage points lower than a month before. The average nominal rate on deposits in foreign currencies was 2.19%, up 0.01 percentage points on August.
● WEDNESDAY, October 25
Situation in agriculture is critical and continues to worsen, ex-deputy premier
The situation in the agricultural sector is critical and continues to worsen. The farmers cope with difficulty and are put in front of a choice: to remain in the country or to emigrate so as to solve their problems, said ex-deputy premier Octavian Calmîc, chairman of the Public Association LEX-ECON Consulting. According to him, the efforts made by the authorities are considered insufficient. Experts in economy and agriculture proposed a series of solutions to develop and maintain the agricultural sector afloat.
Energocom extends contract with MGRES until end of 2024
SA Energocom extended the contract for the purchase of electrical energy with the Moldovan Thermoelectric Plant (MGRES) of the Transustrian region until the end of 2024. The price of electricity remained the same as during the last few months – US$66 per MWh, IPN reports.
● THURSDAY, October 26
Europeans offer assistance to Moldova ahead of winter
The European Union is aware of the economic and, particularly, energy problems experienced by the citizens of the Republic of Moldova. This can be deduced from the European Commission’s decision to pay €72.5 million in financial support to the Republic of Moldova, as part of the ongoing Macro-Financial Assistance operation to the country, IPN reports, quoting a press release of the European Commission.
EU to offer €12 million for Moldovan railway upgrades
The European Commission will provide an investment grant of €12 million for the EIB Global project to rehabilitate and modernize two key sections of railway line in Moldova, IPN reports, quoting a press release of the European Commission.
The financial package was formalized at the Global Gateway Forum by European Commissioner for Neighborhood and Enlargement Olivér Várhelyi and European Investment Bank (EIB) President Werner Hoyer. Supported by a forthcoming loan of €42 million from EIB Global, the upgraded railway infrastructure will not only enhance internal connectivity within the country, but also offer a crucial export route for Ukraine, fostering regional stability and economic resilience.
Concessions on registration of one-story houses in villages and fruit-growing associations
The one-story houses in rural areas and the fruit-growing associations could be registered on condition that the owners declare on one’s own responsibility that they respect all the safety norms and execute intervention works in accordance with the new Urban Planning and Building Code that was given a first reading by Parliament.
Antibiotics prophylaxis in beekeeping to be prohibited
The use of antibiotics for prophylactic purposes in beekeeping will be banned, as a bill that was given a final reading by Parliament provides, IPN reports.
The beekeeper cannot keep more than 30 bee families in the case of non-professional exploitations.
Registration for small producers and tourist guesthouses to be simplified
The registration procedure for small producers and tourist guesthouses will be simplified under a bill approved by Parliament in the first reading. The document aims to optimize the list of food safety authorizations and simplify food certification process, as well as increase the supervision of the foodservice industry.
Parliament adopts law on energy labels
The Moldovan Parliament has adopted the Law on Labeling of Products with Energy Impact. The labels will contain clear information about the energy efficiency of the products, consumption of energy or other resources, as well as other additional information.
● FRIDAY, October 27
Japan offers Moldova €1.9 million in grant funding for farmer
The Republic of Moldova will receive €1.9 million in grant funding from Japan. Moldova’s Cabinet approved the draft decision to initiate negotiations between the Republic of Moldova and Japan to sign the grant agreement for implementing the Provision of Farmers with Fertilizers Project.
Pays of doctors and medical personnel 15% up
The employees of public health facilities included in the mandatory health insurance system will have their salaries raised by 15% on average as from October, IPN reports.
The medical personnel will also benefit from a bonus of over 15% for night shifts. The Cabinet took such a decision following the approval of the “Bonus for Moldova” package.
Women who develop businesses can get up to 600,000 lei in state aid
The women who develop businesses can receive up to 600,000 lei in state support. This is provided in the new program to support female entrepreneurship which was approved by the Cabinet on Friday.
● SATURDAY, October 28
The trial population and housing census: challenges and solutions
To ensure the success of next year’s population and housing census, an extensive public information campaign is key. This is one of the conclusions reached at a roundtable organized by the National Bureau of Statistics in partnership with the United Nations Population Fund, which discussed the trial census that was conducted during August 28- October 10 in 11 localities of Moldova.
New loan guarantee instrument launched: portfolio guarantees
A new loan guarantee instrument has become available, called portfolio guarantees. The mechanism is financed through the World Bank’s MSME Competitiveness Project.
According to Dumitru Pântea, director of the Entrepreneurship Development Organization (ODA), the loan portfolio guarantee mechanism is an innovative initiative for Moldova and beneficial both for the local financial system and for borrowers. The result expected from this mechanism is the guarantee of a loan portfolio of approximately two billion lei. This will facilitate access to finance for at least 900 businesses and help keep or create at least 3,000 jobs. The advantage of portfolio guarantees is in their ability to cover multiple loans under one umbrella, thus providing greater flexibility and efficiency for both lenders and businesses, and the financing process becomes easier and faster.
Moldovan economy still remains net debtor to “rest of the world”
In the second quarter of this year, the net financial value of the national economy saw a downward trend, decreasing from -110.7 billion lei at the end of 2022 to -114.1 billion lei as of March 31, 2023. The number increased slightly to 113.05 billion lei as of June 30. The national economy still remains a net debtor to “the rest of the world”, the National Bank reported.
