● MONDAY, October 31
Octavian Armașu: Interest in financial education has expanded in Moldova
The interest in financial education has increased a lot among children, young people and grownups, including older persons. The people are eager to enrich their financial knowledge and culture. That’s why the Romanian financial education project “Generation I” has supporters in Moldova too, the governor of the National Bank of Moldova Octavian Armașu stated in a roundtable meeting entitled “We choose financial independence at any age”.
Moldovagaz says there are no preconditions for reviewing gas rates down
There are now no real preconditions for reviewing the gas rates for end users down following the decline in the purchase price of gas. Such preconditions will appear when the accumulated negative price deviations are cleared, said the director of SA “Moldovagaz” Vadim Ceban. According to him, in the regulated natural gas supply prices applied since October 1, 2022, the purchase price is defined as an average annually price and is included in the gas rate at the level of US$926.94 per 1,000 cubic meters of gas or 17,906.35 lei.
Energocom purchases electricity from OPCOM
SA Energocom took one more step towards the diversification of the electricity purchase sources. For the first time, the company bought electrical energy from the Romanian electricity market operator OPCOM. Deputy Prime Minister Andrei Spînu, Minister of Infrastructure and Regional Development, said that 875 MWh of power at an average price of 132 EUR/MWh were purchased for Monday. Energocom will continue to daily buy electricity from OPCOM so as to ensure Moldova’s energy security.
● TUESDAY, November 1
Oleg Serebrian: Transnistrian region banks also on electricity produced by Dubăsari power plant
The Transnistrian region is affected by the reduction in the amounts of natural gas supplied by Gazprom and the effects will be both economic and financial in nature, said Deputy Prime Minister for Reintegration Oleg Serebrian. According to him, if Gazprom fully halts the gas supplies, the Kuchurgan power plant can use the coal supplies to produce electrical energy during two more months. The self-styled Transnistrian administration also bank on the Dubăsari power plant that produces 60% of the electricity needed by the residential customers of the region.
Kent D. Logsdon: U.S. sanctions have a powerful reputational impact
We hope the information provided by the United States Department of the Treasury will be used for the sanctioned persons to be brought to justice, said the U.S. Ambassador to Moldova Kent D. Logsdon. According to the diplomat, the inclusion of oligarchs Vlad Plahotniuc and Ilan Shor in the U.S. sanctions list will have a powerful reputational impact and international banks will refuse to work with such clients.
Andrei Spînu: Contract for supply of electricity with MGRES wasn’t signed
On Tuesday, the Republic of Moldova will have a shortage of electricity of approximately 4 070 MWh, said Deputy Prime Minister Andrei Spînu, Minister of Infrastructure and Regional Development. He stated that the contract for the supply of electricity with MGRES (Kuchurgan power plant) wasn’t signed. The official noted that SA Energocom extended the contract for the supply of electrical energy with OMV Petrom for 50 MWh for November and the contract with Nuclearelectrica for 35 MWh for November.
Mechanism for monitoring actions of persons put on U.S. sanctions list
The activities of the individuals and entities put on the U.S. sanctions list for malign influence operations in Moldova as well as systemic corruption in Moldova will be strictly monitored in the Republic of Moldova too. In this regard, the Commission for Exceptional Situations approved a series of decisions that transpose the effect of the sanctions imposed by the Untired States Department of the Treasury’s Office of Foreign Assets Control. This way, the reporting entities will take increased precautionary measures with regard to transactions that do not match the daily activities of the sanctioned persons and of persons who are suspected of being associated with these. The list of the latter will be compiled and updated by the Information and Security Service that will cooperate in this regard with the Service for Prevention and Combating of Money Laundering, the National Bank of Moldova and other public authorities with duties in the field.
State lends 10,000 tonnes of crude oil to Termoelectrica
The Material Reserves Agency is to immediately release 10,000 tons of crude oil from the state supplies to SA Termoelectrica. The crude oil is lent until July 1, 2023 and will be used to produce electrical energy and heat. This is provided in a decision taken by the Commissions for Exceptional Situations.
● WEDNESDAY, November 2
Siegfried Mureșan: We request European institutions to ensure additional financial support for Moldova
Members of the EU-Moldova Parliamentary Association Committee in the evening of November 1 adopted a statement whereby they request the EU institutions to start the accession negotiations with the Republic of Moldova as soon as possible following the fulfillment of the nine recommendations formulated by the European Commission in its opinion on the granting of the EU candidate status, says a message distributed by the communication team of MEP Siegfrid Mureșan.
Moldova could receive US$19.5 million in support from the U.S.
The Republic of Moldova could get an additional contribution of US$19.5 million from the United Sates for strengthening energy security. This became possible thanks to the 14th Amendment to the Assistance Agreement between the Government of the Republic of Moldova and the U.S. Government, which is to be negotiated and approved.The money will be used to reduce dependence on Russia by connecting the key elements of Moldova’s energy sector to the European systems and to also attract investments to local energy production, to diversify natural gas supply sources and to improve energy efficiency.
Rail freight transport via Ukraine to be simplified
The procedures for ensuring rail freight transportation via Ukraine towards Moldova and Ukraine and via Moldova towards Ukraine and Romania will be simplified. The Government approved the initiation of negotiations on draft Protocol No. 2 to amend the Agreement on Rail Transport with the Government of Ukraine.
€800,000 to be allocated for external audit to determine debt of SA Moldovagaz
The state will allot €800,000 from the Reserve Fund for the external audit to determine the debt owed by SA Moldovagaz to Gazprom and Factoring Finance. A decision to this effect was approved by the Government on Wednesday. The money is allocated to the Public Property Agency. Under the contract signed on August 10 with the companies Wikborg Rein Advokatfirma A.S. of Norway and Forensic Risk Alliance & Co. Limited of the UK, the debt owned by Moldovagaz to the Russian concern for the natural gas supplied to the right bank of the Nistru between August 27, 1991 and October 31, 2021 is to be determined exactly.
European Commission provides €52m to Moldova
The European Commission will offer an additional €52 million for the Republic of Moldova to advance the country’s long term resilience, recovery and reforms. Two agreements will be signed for the purpose. The Government approved a draft decision to initiate negotiations on the agreements. The financing agreement for the EU4Reforms Program provides that €27 million in grant funding will be provided for such priority areas as policies and programs on the population and reproductive health, governance and civil society, peace and security.
Railway Agency to be set up in Moldova
A Railway Agency will be created in the Republic of Moldova. The entity will have inspection duties and will issue railway transport permits, safety certificates and engine driver permits, as a draft decision approved by the executive provides.
● THURSDAY, November 3
Digital instruments in construction sector to be developed in Moldova
Two digital instruments in the construction sector and urbanism, accessible to the public through the Internet, will be developed in the Republic of Moldova. Two agreements of cooperation between the Ministry of Infrastructure and Regional Development and USAID Moldova were signed recently for the purpose.
Updated EBRD Business Guide available for enterprises in Moldova
The European Bank for Reconstruction and Development (EBRD) has updated its online Business Guide for micro, small and medium-sized enterprises (MSMEs) in Moldova and Ukraine with dedicated information for those that have been affected by the war. The latest information is available in the Romanian and Ukrainian languages.
Pavel Calpajiu: We hope confiscated goods will be ultimately reused for social purposes
The Criminal Assets Recovery Agency (CARA) considers the social perception, including of the judiciary system, as regards the importance of applying the confiscation instrument and of developing social reuse instruments, needs to be shaped. The National Criminal Assets Recovery Program can be a suitable instrument in this regard. “We hope the confiscated goods will be ultimately reused for social purposes. The social reuse can be applied only together with the issuing of a confiscation order,” Pavel Calpajiu, head of the CARA’s Assessment, Management and Use of Confiscated Goods, stated in a press club meeting.
Vadim Ceban: Next year we will be the first to ask for gas rate adjustment
Even if the purchase price of the gas supplied by Gazprom has declined, the president of Moldovagaz Vadim Ceban said they do not intend to request to reduce the gas rates paid by end users. Moldovagaz accumulated 5 billion lei in financial deviations and these can be covered only through the rate. If the downward international trends persist, they will ask for a gas rate adjustment but only next year.
Adrei Spînu: Moldova for first time imported natural gas in reverse flow
For the first time, the Republic of Moldova imported natural gas in reverse flow, from the West to the East. SA Energocom purchased an amount of 5.6 million cubic meters of natural gas that was transferred through the Budnice gas delivery unit in Slovakia, at the border with Ukraine.
State to refund VAT to agricultural producers
The state will refund the Value Added Tax to agricultural producers for paying overdue taxes. A bill to this effect was given a first reading by Parliament. The VAT Refund Program covers business entities working in agriculture, which sustained losses of over 50% of the agricultural production due to natural disasters experienced in 2022. The VAT will be refunded based on applications submitted to the State Tax Service. The payments for April 2022 – June 2023 inclusive will be made within 25 workdays of the submission of the application.
Bill to remove duty-free regime passed
The MPs gave a final reading to the bill to eliminate the duty-free regime in Moldova. This way, the sale of goods in stores located in customs areas will be taxed according to the fiscal equity principle for all the entrepreneurs in Moldova.
● FRIDAY, November 4
Electricity rates higher as of Nov. 4
Households in central and southern Moldova powered by the energy supplier Premier Energy as from November 4 will pay 4.77 lei/kWh. In the northern regions, households powered by Furnizarea Energiei Electrice Nord will pay 4.81 lei/kWh. The hikes approved by the National Agency for Energy Regulation two days ago were published in the November 4 issue of the Official Gazette.
Maia Sandu: Undeclared work means loss of tax revenue and this affects citizens
For the state, undeclared work means loss of tax revenue and this has an impact on the citizens. The serious economic costs are an injustice for those who work legally. Those who hire persons unofficially do not pay taxes and are this way at an advantage compared with those who work legally, President Maia Sandu stated in an international conference entitled “Moldova goes white: Solutions for encouraging transition to legal work”.
Price of gasoline passes 26 lei mark
The price of gasoline COR 95 during the next three days will be 26.06 lei a liter, up 0.19 lei a liter on today, according to the price ceilings announced by the National Agency for Energy Regulation.
● SATURDAY, November 5
Over 85 km of road will be repaired in Moldova thanks to EBRD support
The European Bank for Reconstruction and Development (EBRD) approved a 100 million euros extension of a financing agreement. The money is intended for the construction and repair of over 85 km of road in Moldova. This was announced by Andrei Spînu, Deputy Prime Minister/Minister of Infrastructure and Regional Development.
Chisinau administration takes over ACC’s loans
The Chisinau City Council voted to transfer the loans borrowed in 2014 by the water utility Apa-Canal Chisinau (ACC) from the EBRD and EIB. Now the loans, worth 21 million euros each, are to be paid by the Chisinau Mayor’s Office, which acted as guarantor when they were taken out. The measure, according to ACC, will enable the City Council to adjust the water and sewer rates bypassing the National Energy Regulatory Agency. And the increased rates will help the utility out of its difficult financial situation.
