ECO-BUS WEEKLY DIGEST September 16 - 22. Most important Economy & Business news by IPN

● MONDAY, September 16

Starting today, citizens can purchase state securities through eVMS platform

Individuals from the Republic of Moldova can buy state securities (SS) on the platform eVMS.md from today, September 16, until September 25. Purchases of state securities become possible without intermediaries, and the Ministry of Finance says that Moldovans will benefit from the most competitive interest rate on the market – 6 percent annually.

National Wine Day to be celebrated in central square of Chisinau Oct. 5 and 6

The 23rd edition of the National Wine Day will be celebrated on October 5 and 6 in the Great National Assembly Square of Chisinau. The slogan of this year’s edition is “Our Unexpectedly Great Wine”.

Over 11,000 people helped by ANOFM to find a job so far this year

More than 11,000 people were helped to become employed since the beginning of 2024, a figure that exceeds the number of total hires in 2023.

State social insurance budget revenues higher in first eight months

Revenues totaling 29.642,7 billion lei or 68.9% of the approved annual plan were accumulated in the state social insurance budget in the first eight months of the year. The total expenses were executed in the amount of 28.363,0 billion lei or 65.9% of the annual projections. According to the National House of Social Insurance (CNAS), the execution of the state social insurance budget in the first eight months ended with revenues that were by 1,279,7 billion lei higher than the costs.

Moldova Business Week inaugurated in Chisinau

The 9th edition of the Moldova Business Week 2024 Economic Forum was opened in Chisinau.  For the first time, the event is taking place in four key regions - Chisinau, Edinet, Ungheni, and Balti – and brings together more than 1,000 participants, including foreign investors and local entrepreneurs, as well as high-ranking officials and top economic experts.

Rain postpones, but does not cancel farmers’ protest

Farmers in southern Moldova postponed their protest with a hundred participants and agricultural machinery until Tuesday morning. The event was put off due to the heavy rain and the need to help owners of the land flooded in recent days, Gheorghe Jurcanu, a representative of the Farmers’ Force Association.

Entrepreneur Alexandru Guțu: Moldova could offer the EU the Moldovan charm that is sometimes missing

The Republic of Moldova, having a strong partner like the European Union, can advance quickly and safely on its European path, which would greatly help the citizens of our country escape poverty and worries. This statement belongs to Alexandru Guțu, the General Director of the German Diagnostic Center, a foreign-owned company that provides high-performance medical services in our country. The clinic, which offers the latest and most advanced medical services to the people, is ready to contribute to Moldova's development.

Education unions request pay raise

Education unions are asking the government to consider bringing salaries for teaching staff up to the national average.

● TUESDAY, September 17

Oxana Lupu, founder of WolfX – an accounting company: The Moldova of the future is a country with freedom, fairness, and happy people

The European Union is not just about well-paid jobs, equal rights, good infrastructure, and institutions working in the interest of citizens, but also about countries with happier people. This is the future Oxana Lupu, founder of WolfX, an accounting company established in 2014, envisions for Moldova. In Europe, people smile more, says Oxana in a video interview conducted as part of an electoral education and information campaign regarding Moldova's European integration.

€9 million in financial support from Denmark

Denmark will provide Moldova with over €9 million in new financial support, Undersecretary of the Danish Ministry of Foreign Affairs Ole Thonke announced at the Ministerial Conference of the Moldova Partnership Platform in Chisinau.
Farmers seek dismissal of Minister Vladimir Bolea

A number of farmers in southern Moldova have taken their tractors out on the roads in protest. They call on the head of state to remit back to Parliament the recently passed special law regarding farmers for being amended based on the demands put forward by the Farmers’ Force Association. The farmers also demanded to start the legal procedure for dismissing Minister Vladimir Bolea.

● WEDNESDAY, September 18

Energocom reserves for first time energy quotas to be purchased from Nuclearelectrica

For the first time for the interconnection of the electricity systems of the Republic of Moldova and Romania, Energocom has reserved part of the monthly capacity for October in order to purchase electricity from Romania’s Nuclearelectrica.

Women earn about 38% less than men

The average salary of women in Moldova last year was by 15.6% lower than that of men. The difference between the average salaries is of over 2,000 lei. The average gross monthly salary of women was 11,237 lei, of men – 13,309 lei. The data were presented by the National Bureau of Statistics on the occasion of the International Equal Pay Day, which is marked annually on September 18.

Budget deficit of -6.3 billion lei at end-June

The 2024 state budget revenues on June 30 were executed at the level of 31.3 billion lei, while the expenditure - of 37.5 billion lei. Thus, the budget deficit was about 6.3 billion lei, IPN reports, with reference to the Ministry of Finance.

One can now sell vehicle without leaving home

The purchase/sale agreements for vehicles put in the State Register of Vehicles could be concluded online, without having to go to the vehicle registration subdivisions of the Public Services Agency (PSA). In order to access the new service, the signatories of the vehicle purchase/sale agreements must have a qualified electronic signature.

Farmers to protest outside Parliament Building and Presidential Palace Thursday

Farmers from the south of the country, who are dissatisfied with the measures adopted by the authorities, continue protesting, insisting on the demands they submitted to the decision-makers regarding the support for agriculture as a result of the calamities of the last three years. The farmers warn that they will extend the demonstrations and will picket the Presidential Palace and the Parliament Building on Thursday. This will be the third day of protests after the latest heavy rain.

● THURSDAY, September 19

YouTuber tried for not paying 370,000 lei taxes to state

A woman who manages a YouTube channel did not pay to the state 370,000 lei taxes on an income of about 3 million lei, obtained from Google company in 2021 and 2022. A criminal case was started against the YouTuber. The woman is 30 years old, lives in the north of the country and manages a channel with hundreds of thousands of followers. The Prosecutor’s Office for Organized Crime and Special Cases informed about the indictment, referring to information obtained from the State Tax Service.

Record number of winemakers expected to come to National Wine Day

Ninety-nine winemakers registered to take part in the National Wine Day that will be celebrated on October 5 and 6 in the Great National Assembly Square. Ștefan Iamandi, director of the National Office of Vine and Wine, told a press conference that the number of participants increases every year and this year will see a new record. More participants are yet likely to register.

NBM promises to monitor economic developments in order to avoid price increases

The National Bank of Moldova (NBM) has announced constant rates and the maintenance of monetary policy instruments at the current level.

Third day of farmers’ protests: “We want law back!”

Farmers from several districts protested in front of the Presidential Palace on Thursday. They called on the head of state to send to Parliament back for revision the law on the support measures provided to farmers after this year’s drought.

Trucks blocked at Moldovan-Ukrainian customs post

A Moldovan company specialized in the collection, processing and export of ferrous and non-ferrous metal waste to Turkey and the European Union complains about the blocking of trucks at the Giurgiulești-Reni joint customs post. The company’s administrator, Valentin Eșanu, said that there is an order from the Security Service of Ukraine not to allow vehicles to pass. Valentin Eșanu called on the authorities of the two countries to intervene and deal with the “artificial blockage” created at the Moldovan-Ukrainian customs post.

Ministry of Agriculture discussing a fund for farmers with European partners

While farmers have been protesting for three days already, Minister Vladimir Bolea says he is looking for solutions to help them. He discussed with the European Commissioner for Agriculture, Janusz Wojciechowski, the creation of a fund for farmers. Also, he prepared official letters to the 27 ministers of agriculture from the EU member states, Bolea told the Economic Council advising the Ministry of Agriculture.

● FRIDAY, September 20

Igor Grosu: My message to farmers is to separate policies from politics

Vladimir Bolea will not be dismissed from the post of Minister of Agriculture because a person cannot influence the weather and make so as it rains or not. This is the answer given by Speaker of Parliament Igor Grosu to the question if a dismissal will follow, as the protesting farmer demand. The official called on the farmers to separate politics from policies and assured that the authorities are making efforts to help them overcome the crisis they are facing.

Price of gasoline goes up after 10 weeks of decline

After decreasing for a long period, the price of COR 95 gasoline started to grow. During the next three days, gasoline will be sold for 22.36 lei/liter, by 0.07 lei more than on Friday. The price of standard diesel fuel remains stable for now, at 19.06 lei/liter.

€86 million funding for local projects

A number of 37 Local Action Groups (LAGs) were selected for being financed within the first call of the Leader National Program for 2022-2023. The financing for the implemented projects amounted to 86 million lei.

What do we do with savings: do we keep, spend or invest them?

Keeping the money gathered to achieve particular personal goals “under the mattress” implies a number of risks. In addition to those associated with the risks inherent to a material asset (fire, theft, etc.), cash kept “under the mattress” is also subject to devaluation. The devaluation can be slower or faster, depending on the development of the national economy, but also of the large economies of the world. Economists determined that inflation occurs even in situations of perfect, well-balanced economic development, being called natural inflation. The National Bank of Moldova answers the question “What do we do with savings?” in a series of materials carried out in partnership with the Independent Think Tank “Expert-Grup”.

$120 million loan from Canada for state budget

The Republic of Moldova borrows from Canada $120 million to finance the needs of the state budget and to supplement the World Bank’s program to support the country’s resilience. The bill to ratify the loan facility agreement was given a first reading by the Parliament.

Igor Grosu: My message to farmers is to separate policies from politics

Vladimir Bolea will not be dismissed from the post of Minister of Agriculture because a person cannot influence the weather and make so as it rains or not. This is the answer given by Speaker of Parliament Igor Grosu to the question if a dismissal will follow, as the protesting farmer demand. The official called on the farmers to separate politics from policies and assured that the authorities are making efforts to help them overcome the crisis they are facing.

Price of gasoline goes up after 10 weeks of decline

After decreasing for a long period, the price of COR 95 gasoline started to grow. During the next three days, gasoline will be sold for 22.36 lei/liter, by 0.07 lei more than on Friday. The price of standard diesel fuel remains stable for now, at 19.06 lei/liter.

Over 60% of Moldovans suffer from holiday poverty, survey

More than 60% of Moldovans do not generally go on vacation or at least have not been anywhere in the last two years. They didn’t even holiday at home. It goes to the elderly, especially from rural areas, without education. On the other hand, 3.5% of Moldovans go on vacation for several times a year, both in the country and abroad. It goes to young people from cities, with studies, shows an opinion poll conducted by CBS Research and commissioned by the Institute for Development and Social Initiatives “Viitorul”.

● SATURDAY, September 21

Union Highway to be completed by 2030, says Romanian state secretary

The Romanian and Moldovan authorities are expecting the A8 highway, dubbed the Union Highway project, to be completed by 2030. This was announced by Ionel Scrioșteanu, state secretary of the Romanian Ministry of Transport, after making a visit to Chisinau to discuss this and other transport infrastructure projects.

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