Implementation of economic recovery and stabilization program will cost 10bn lei

The Government Wednesday approved the economic recovery and stabilization program that will be implemented at a cost of 10 billion lei. Deputy Prime Minister and Minister of Economy Valeriu Lazar said this sum is comparable with those needed to implement the anti-crisis programs approved by other countries of the region, i.e. 3-10% of the GDP, Info-Prim Neo reports. Lazar said only the maintenance of the zero tax on the companies’ reinvested profit until 2012 will cost 1.3 billion lei. However, the Government considers that this measure should not be annulled in a period of crisis as the economic entities have been seriously affected. The Deputy Prime Minister also said that not all the measures outlined in the program are covered. Early next year, Moldova will present the program to the foreign donors and ask them to provide the necessary financial assistance. The program focuses on three major pillars: stabilization and optimization of public funds; economic recovery; guaranteeing of efficient social protection for the vulnerable groups of people in the crisis period. The Government decided that the responsible organizations will render reports on the implementation of the program every three months. The program is accompanied by a communication strategy.