● TUESDAY, May 14
Trade liberalisation extended for another year
The European Council approved the suspension of import duties and quotas on Moldovan exports to the European Union for another year. Thus, the Moldovan producers will be able to continue exporting table grapes, tomatoes, garlic, apples, cherries, plums and grape juice to the large European market without duties and quantitative restrictions.
Renewable energy market in Moldova has extremely high potential, Romanian company
The renewable energy market in the Republic of Moldova has extremely high potential, both in terms of solar and wind energy. There is quite a lot of potential in Moldova for both wind and hydro, said Ana Nedea, strategy and business development director at the Romanian company Simtel, a market leader in the construction and maintenance of photovoltaic power stations.
Chisinau International Airport will not be privatized, amendment
The state-owned enterprise Chisinau International Airport will be included in the list of assets that cannot be privatized. This was announced by the chairman of the parliamentary commission for economy, budget and finance Radu Marian, who registered in Parliament an amendment in this regard.
● WEDNESDAY, May 15
We respond quickly to changes to stimulate investments and economic activity, Anca Dragu
The governor of the National Bank of Moldova Anca Dragu said that the stabilization of inflation in the range of 5% (±1.5) confirms the effectiveness of the NBM’s strategy to stabilize prices. Presenting the second report on inflation in 2024, the governor said that the inflation index is maintained for the seventh consecutive month around the target set by the NBM.
PM Recean at meeting with Dutch Foreign Minister: Europe means peace, security and welfare
Today’s realities demonstrate how important the Republic of Moldova is for the European Union. The Kingdom of the Netherlands will remain a reliable partner of Moldova in achieving the European agenda, in the efforts to modernize the country and attract investments, said the Minister of Foreign Affairs of the Netherlands Hanke Bruins Slot, who met with Prime Minister Dorin Recean. The officials discussed the Moldovan-Dutch cooperation in the economic field, mentioning the business forum that will take place during the Days of Moldova in the Netherlands on June 28-30 this year.
UTM Energetics Faculty outfitted with equipment with EU support
The Faculty of Energetics and Electrical Engineering of the Technical University of Moldova (UTM) was provided with new equipment for training specialists in the field of energy. The value of the equipment amounts to US$423,000. It was donated by the European Union through the program “Addressing the impact of the energy crisis in Moldova”, which is implemented by UNDP Moldova.
Moldova borrows $50 million to make 46 schools and other public buildings energy efficient
Forty-six schools in the country and other public institutions will benefit from investments for energy efficiency following the raising of a $50 million loan from the International Bank for Reconstruction and Development. According to the authorities, the money will be repaid from energy savings.
Although the economy resumed growth in 2023, pace was slow, accompanied by increase in poverty, WB
Moldova’s economic outlook deteriorated significantly following Russia’s invasion of Ukraine. Although the economy resumed growth in 2023, the pace has been slow, accompanied by an increase in poverty fueled by inflationary pressures. Ongoing challenges such as the war in Ukraine, structural problems and the upcoming elections continue to impose constraints that significantly affect consumer and investor confidence, says the World Bank’s latest Economic Outlook.
Moldova’s economy is forecast to grow by 2.2%, but particular risks persist, World Bank
World Bank experts estimate that the economy will grow by 2.2% in 2024, driven by rising real wages, a positive fiscal impulse, and subdued inflation. In the most recent Economic Outlook, the experts say that private consumption and investments will support growth, aided by accommodative monetary policies.
However, particular risks persist. Private consumption and investment growth could remain below historical averages due to high energy and food prices, as well as lack of consumer and investor confidence. Net exports may impede growth due to increased demand-driven imports, on the one hand, and lower exports to CIS markets due to logistical problems, amplified by lower re-exports to Ukraine, on the other hand. As for the supply, growth in the services sector, particularly IT, transport and travel, as well as public services, which will be supported by IT outsourcing opportunities and public sector modernization, is expected to support growth in 2024.
“Republic of Moldova presents” exhibition to be mounted in Brasov June 28-30
Economic agents from the Republic of Moldova can submit applications to participate in the fourth edition of the exhibition “Republic of Moldova presents” in Brasov, Romania. The event will take place during June 28-30, in the Council Square. The organizers expect about 60 economic agents to take part in the event.
● THURSDAY, May 16
Three out of ten Moldovans cannot keep their home warm enough, WB analysis
Energy affordability is a long-standing challenge in Moldova, with three out of ten people reporting the incapacity to keep their home warm enough - one of the highest rates in Europe. Successive price shocks over the past three heating seasons exacerbated these challenges and, without mitigation measures, would have resulted in considerable negative effects on wellbeing. The findings belong to experts of the World Bank and can be found in the latest Economic Outlook.
High energy costs prevent Moldovans from increasing energy efficiency, World Bank
Against the background of the high financial burden of energy costs, a significant number of poor Moldovans failed to improve the energy efficiency of their homes. The modernization of insulation, which can mitigate the effects of rising energy prices, hasn’t been implemented in about 56% of poor households in Moldova. Estimates suggest that medium-level renovations, such as insulation of walls, roofs, basements, windows and doors could lead to energy savings of around 45%. This is said by World Bank experts, who consider it essential for the Government to focus on providing affordable financing options for energy efficiency in order to help households manage more efficiently the costs for energy resources.
Moldova and Italy sign memorandum of cooperation in agricultural sector
Moldova and Italy have signed a memorandum of understanding providing for economic, social and technological cooperation in the agricultural sector and rural development. The harmonization of agricultural legislation and policies with those of the European Union is one of the elements of the document.
Chisinau International Airport put on list of goods that cannot be privatized
The state-owned enterprise Chisinau International Airport was included in the list of goods that cannot be privatized by an amendment to the law on the application of international restrictive measures, which was given a final reading by Parliament.
Professor of economics appointed on central bank’s supervisory board
Parliament today approved the appointment of Ion Lapteacru as member of the National Bank’s supervisory board.
In the early 2000s, he worked as an economist in Moldovan commercial banks, and between 2004 and 2019, Ion Lapteacru was co-founder and board member of the Expert-Grup think-tank.
He is a member of the European Economic Association and Association Française des Sciences Économiques, author of articles and book chapters, participates in international conferences and continuous improvement courses.
● FRIDAY, May 17
Nuclear energy will come to Moldova as European element?
The Republic of Moldova, as part of the Vertical Gas Corridor between Bulgaria, Greece, Romania, Hungary, Slovakia and Ukraine, is involved in projects that will ensure new capacities at the Kozloduy Nuclear Power Plant and the transit of natural gas quantities from southern to northern Europe, IPN reports, with reference to Radio Bulgaria in Romanian.
ROMGAZ opens branch in Moldova
The largest producer and main supplier of natural gas in Romania, ROMGAZ, opened a branch in the Republic of Moldova. The ROMGAZ branch in Chisinau on May 16 was registered with the Public Services Agency of the Republic of Moldova, being added to the State Register of Legal Entities.
Moldovan-Ukrainian border crossing point in Giurgiulești -Reni inaugurated after reconstruction
The Moldovan-Ukrainian border crossing point in Giurgiulești-Reni was inaugurated after reconstruction. It will allow the customs services of Moldova and Ukraine to work together to facilitate the transit of freight and passenger transport. The project is the result of joint efforts between Moldova, Ukraine, Romania and partners from the U.S. and the EU, in the context of the Quint Meetings.
NBM becomes member of International Association of Insurance Supervisors
The National Bank of Moldova (NBM) became a member of the International Association of Insurance Supervisors (IAIS), which includes the International Monetary Fund, the World Bank, the European Commission, the Organization for Economic Cooperation and Development, as well as insurance sector supervisory authorities from other jurisdictions.
● SATURDAY, May 18
Motorway crosses the Prut River at Ungheni (RO) and Ungheni (MD)
The A8 motorway will connect Romania and the Republic of Moldova, representing a true premiere for both of the states. The contract for the construction of the bridge over the Prut River in Ungheni will be signed in June this year. Irinel Ionel Scrioșteanu, state secretary of the Romanian Ministry of Transport, announced this following a meeting in Ungheni of those who are responsible for the construction of this bridge.
Finance Ministry revises down economic growth forecast for this year
The Ministry of Finance has revised down the economic growth forecast for this year, from 3.5% to 2.6%, Finance Minister Petru Rotaru announced in the talk show “Reality concerns you”.