TUESDAY, March 19
Heat charges decreased in Chisinau and Balti
At the end of the heating season, the heat charges in Chisinau and Balti municipalities were reduced. The National Agency for Energy Regulation approved the charge decreases at the request of JSC Termoelectrica and JSC CET-Nord.
Electricity charges decreased slightly
The electricity charges will be by several bani lower. The National Agency for Energy Regulation (ANRE) examined suppliers’ requests to increase the charges. The regulator decided yet to reduce the charges, but slightly.
NBM makes significant progress in aligning with EU standards, governor says
The Moldovan central bank has made significant progress in aligning its financial market surveillance instruments with European standards, stated Anca Dragu, governor of the National Bank of Moldova, during an event to conclude an EU-funded twinning project.
“We have delivered tangible results to market participants and managed to prepare well the SEPA accession file recently sent to the European Payments Council. It is time to move on. We aim to obtain this year a positive assessment of the equivalence of banking legislation with the European one according to the methodology of the European Banking Authority, so that the attractiveness of the Moldovan banking sector for EU investors and the resilience of the financial system in general will increase”, said Anca Dragu.
CET Nord to buy natural gas on commodity exchanges
CET Nord will buy natural gas on commodity exchanges. The state-run company and BRM East Energy, a subsidiary of the Romanian Commodity Exchange, signed an agreement to this effect.
● WEDNESDAY, March 20
Free Trade Agreement with EFTA member states ratified
Exporters of Moldovan products will benefit from better commercial and economic conditions on the market of the member states of the European Free Trade Association (EFTA) The Cabinet on Wednesday ratified the Free Trade Agreement between Moldova and the EFTA member states – Iceland, the Principality of Liechtenstein, the Kingdom of Norway and the Swiss Confederation.
Vertical Gas Corridor, a priority of Bulgarian government
New developments in connecting the Republic of Moldova to European gas supply initiatives. The state-owned company Bulgartransgaz said that it is preparing public procurement of gas through the Vertical Gas Corridor, which will increase the capacity to transport natural gas from Greece to Bulgaria, Romania, Moldova, up to Ukraine, IPN reports with reference to Bulgarian sources.
Government to borrow money to modernize regional roads and border crossings
The Government intends to take out loans in order to modernize key regional roads and improve road safety. Also, the funds will be used to renovate border crossings at Giurgiulești, Leușeni and Ungheni and rehabilitate the roads leading to these crossings.
For this purpose, the Government approved the initiation of negotiations on loan agreements with the International Bank for Reconstruction and Development, worth $100 million, and the International Development Association (AID), worth $5.9 million, as part of the Rural Connectivity Project.
● THURSDAY, March 21
Sigfried Mureșan: European Commission submitted proposal on Moldova’s gradual integration into European Single Market
Moldovan products will enjoy facilitated access to the EU market. The European Commission submitted to the European Parliament MEP Siegfried Mureșan’s proposal on Moldova’s gradual integration into the European Single Market. According to the European official, the access to the European Single Market will provide concrete benefits to Moldova’s citizens, before the country becomes a member of the European community.
● FRIDAY, March 22
Sigfried Mureșan: European Commission submitted proposal on Moldova’s gradual integration into European Single Market
Moldovan products will enjoy facilitated access to the EU market. The European Commission submitted to the European Parliament MEP Siegfried Mureșan’s proposal on Moldova’s gradual integration into the European Single Market. According to the European official, the access to the European Single Market will provide concrete benefits to Moldova’s citizens, before the country becomes a member of the European community.
Base rate applied to main monetary policy operations falls to 3.75%
The base rate applied to the main short-term monetary policy operations was decreased from 4.25% to 3.75%. annually. A decision to this effect was approved by the Executive Board of the National Bank of Moldova.
Also, the interest rate on overnight loans was set at 5.75 percent annually, compared to 6.25 percent at present, while on overnight deposits - at 1.75 percent annually, as opposed to 2.25 percent now.
Inflation in February remained at 4.3%
The annual inflation in February 2024 was within the target range for the fifth consecutive month, standing at 4.3%, by 0.3 percentage points lower than in January. According to the National Bank of Moldova, the decrease in food prices on the international market, the high base and the low demand contributed to the reduction of inflation. Concomitantly, the stimulative monetary policy measures so far, the positive seasonal effect, the adjustment of fiscal policy and some adverse sector shocks alleviated the decline in inflation.
Insurance companies obliged to issue MTPL or face fines
Insurance companies will be obliged to issue compulsory domestic motor third party liability insurance (MTPL), including to taxi companies. A draft law that was given a first reading by Parliament sets down the deadline for settling insurance claims, and if it is not respected, insurers risk harsh fines.
NBM in February didn’t intervene on local foreign exchange market
In February 2024, the coverage of the net demand for foreign currency from economic agents through the net supply of foreign currency from individuals was 90.5%, compared to 97.4% in January 2024.
Women with economic activities in agriculture offered assistance to boost energy efficiency
Women with economic activities in agriculture from 16 districts can obtain assistance in enhancing energy efficiency and implementing renewable energy solutions by participating in a call for proposals, open during 21 March – 15 April 2024. In total, 75 energy resilience enhancement proposals will be supported by UNDP Moldova with the financial support of Switzerland and Japan.
● SATURDAY, March 23
Farmers Force wants ‘urgent meeting’ with central bank leadership
The Farmers’ Force Association is asking decision-makers in Parliament to arrange an “urgent meeting” with the National Bank leadership in order to identify a solution that allows more farmers to access both the Emergency Loan and the Working Capital Loan facilities.
In a statement, the Farmers’ Force noted “with deep regret and indignation” that the Emergency Agricultural Loan facility is “not functional for most farmers who are in payment difficulties”.
Table grape exports increased in 2023
In 2023, the export of table grapes saw a significant increase compared to the previous year. Producers managed to increase the amount of grapes exported by 11% and the value by about 33%. The number of countries where Moldova exports table grapes increased by 28% compared to 2022. The remarkable progress recorded in this area was highlighted at the National Forum of the table grape sector, held at the Center for Excellence in Viticulture and Winemaking.
