● MONDAY, July 29
HiSky to operate flights to Paris and other destinations
The Romanian-Moldovan airline HiSky said it will operate flights from Romania’s capital Bucharest to Paris, France, starting October 14, the regional platform SeeNews reported, with reference to a press release of the company.
Moldova’s economy in 2023 began slow recovery process
The economy of the Republic of Moldova, after the inflationary shock of 2022 and against the background of all the geopolitical and economic perils caused by the war in Ukraine and the fragmentation of the world economy, began a slow recovery process, growing by 0.7% in 2023. However, inflation reached the limits targeted by the NBM, being 4.2% in annual terms, which created conditions for price stability needed for the recovery of the economy, says the Financial Stability Report 2023, published by the National Bank of Moldova.
Ministry of Energy proposes candidates for Moldovagaz board
The Ministry of Energy announced it has completed the process of selecting the candidates for four out of nine vacant positions on Moldovagaz’s Board of Directors that it gets to nominate.
● TUESDAY, July 30
NBM launches new version of RCA.BNM.MD portal
The National Bank of Moldova has launched the new version of the portal RCA.NBM.MD. The portal provides consumers of financial services with essential digital tools for calculating the insurance premium, checking the status of the vehicle’s internal and external insurance, obtaining information about the Bonus-Malus classes and the history of the vehicle’s registered damages. The institution also announces the implementation of the new format for the internal MTPL insurance policy in the context of the continuous modernization of financial services.
MP Marian’s clarification about bill regarding gambling advertising
MP Radu Marian came up with explanations over the draft law concerning gambling advertising, which was recently registered in Parliament. According to him, the vast majority of advertising restrictions remain in place. The bill allows advertising for sports betting and lottery during national TV/radio broadcasts of sports events, but also between 22:00 and 07:00.
“Barza Albă” absorbs “Aroma”
The joint stock companies “Barza Albă” and “Aroma” merge through the absorption of the latter. A decision to this effect was taken by the Cabinet on Tuesday.
What to do before signing an insurance contract
Before signing an insurance contract, the people must read it carefully to understand all its provisions. If need be, the advice of an insurance professional can be requested. Typically, this role is reserved to insurance intermediaries, such as an insurance broker. Likewise, the person can ask for the advice of a legal expert. In a contractual relationship, everything is negotiable, except for the insurances required by law. The recommendations are formulated by the National Bank of Moldova, in partnership with the Independent Think Tank “Expert-Grup”, as part of a set of informative materials on various financial topics, aimed at consumers of all ages.
Digitization and cutting red tape could lead to 2.5% GDP growth, says PM
Prime Minister Dorin Recean has highlighted the need for a greater effort to encourage investment and de-bureaucratize processes.
“De-bureaucratization and digitization can bring about an increase of up to 2.5% in GDP”, stated Recean during a meeting of the Economic Council, a consultative body advising the Prime Minister.
● WEDNESDAY, July 31
Petru Rotaru named central bank deputy governor
Former Minister of Finance Petru Rotaru was appointed deputy governor of the National Bank of Moldova and a member of the Executive Board. The draft decision was adopted by Parliament on Wednesday.
Parliament ratifies agreement with IBRD for €37.3m loan
Parliament ratified the loan agreement with the International Bank for Reconstruction and Development (part of the World Bank Group) for implementing the Growth and Resilience Development Policy Operation. The state will access a loan of 37.3 million and will also benefit from a US$5 million grant.
Farmers ask for subsidies, minister urges them to support referendum on EU integration
The drought, but also the heavy rain with hail compromised agricultural crops in a number of districts. In the north and center of the country, up to 70% of the crop fields were affected, while in the south the affected areas reach 100%. The data were presented by the heads of district agricultural divisions in a meeting with Minister of Agriculture and Food Industry Vladimir Bolea.
Farmers’ Force: Lack of Government action will lead to bankruptcy of thousands of farmers
The lack of rapid support measures from the Government to save the agricultural sector and adjust it to the new weather conditions will result in the bankruptcy of thousands of farmers, and the adverse effects will be not only economic, but primarily social and political, the Farmers’ Force association warned following a meeting with the relevant parliamentary commission.
Government encourages public to invest in state securities
The Government has launched eVMS.md, an online trading platform enabling Moldovan citizens to invest in state securities without intermediaries.
During the launch event, Ion Gumene, State Secretary at the Ministry of Finance, noted that state securities represent an essential pillar of the financial market and investment strategies, both in Moldova and throughout the world. These financial instruments issued by the MF are not only a source of financing for the state, but also an opportunity for investors to manage and develop their financial portfolios, while contributing to the development of the country.
● THURSDAY, August 1
Ministry of Energy presents winter energy security plan
The Ministry of Energy proposes 45 measures to ensure the security of energy supply the coming winter, including the voluntary reduction of natural gas consumption by 15 percent, according to the recommendations of the European Union, and the promotion of the use of alternative fuels.
EU-funded program increases Moldova’s energy resilience
Among many other interventions, about 800,000 Moldovan households enjoyed energy bill relief in 2022-2024 under the “Addressing the Energy Crisis in Moldova” Program. With a budget of 13 million euros offered by the EU in non-reimbursable funding and implemented by UNDP, the program was formally wrapped up on August 1 in a public event.
● FRIDAY, August 2
Andrei Spînu: Public Property Agency is responsible for Airport tender contest
Minister of Infrastructure and Regional Development Andrei Spînu said that the Public Property Agency is in charge of organizing the tender contest for the rental of commercial spaces at the Chisinau International Airport. He noted that he has nothing to do with the failure of the tender contests at the Airport and that he has never met with representatives of the company that submitted bids in the first tender contests.
Electricity from renewable sources this year is expected to exceed 10%, minister
The volume of electricity from renewable sources is estimated to exceed 10% this year, in the context in which the Republic of Moldova undertook to reach a target of up to 30% by 2030. According to Minister of Energy Victor Parlicov, the progress in recent years has been remarkable as the share of electricity from renewable sources in 2021 was only 3%. The state does not want to stop at what has been achieved but, on the contrary, to accelerate.
Prices of diesel fuel and gasoline go down
The diesel fuel price over the last four weeks decreased by 1.17 lei/liter, while the price of gasoline COR 95 – by 0.73 lei/liter. Thus, pump prices in the period declined below 21 lei/liter for diesel fuel and below 25 lei/liter for gasoline.
How to claim compensation correctly and what mistakes to avoid in discussion with insurer
The procedure for submitting and managing a claim with an insurance company consists of several steps. The first step is to immediately report the event that caused damage, after which the claim for compensation should be filed. The National Bank of Moldova, in partnership with the Independent Think Tank “Expert-Grup”, explains how to correctly ask for compensation and what mistakes to avoid in the discussion with the insurer. The presented information is part of a set of informative materials on various financial topics intended for consumers of all ages.
Mortgage loans saw spectacular rise, but they are at beginning of journey, expert
Even if the phenomenon of mortgage loans in Moldova is two to three times smaller than in the countries of the region and incomparably weaker compared to the developed countries, the situation is still better than 10 years ago. Although the mortgage loans have witnessed a spectacular increase in recent years, they are currently at the beginning of their journey towards forming a civilized market, said expert in economic policies of the Institute for Development and Social Initiatives “Viitorul” Veaceslav Ioniță.
Ministry of Finance will launch 2- and 3-year government bonds at nominal or discounted value
The Ministry of Finance intends to extend the maturity of the portfolio of state securities (SSs) issued on the domestic market and will launch 2- and 3-year government bonds at nominal or discounted value. The issuance of these types of bonds will take place on August 7, 2024.
First economic operator authorized by Customs Service to use global guarantee
The Customs Service authored the first economic operator to use the global guarantee, which was constituted in the form of a commitment issued by a licensed insurance company.
First electric bus plant in Moldova to be built in Chisinau suburb
The construction of the first electric bus plant in Moldova will begin this autumn near Chisinau’s suburban commune of Trușeni. Within a year at most, the facility is expected to start manufacturing electric buses and trolleybuses, announced Dumitru Alaiba, Minister of Economic Development and Digitalization.
● SATURDAY, August 3
Volume of global agricultural production up 5.5% in first six months
Global agricultural production in farms of all categories increased by 5.5% in the first six months of 2024, compared to the same period of 2023. Crop production grew by 13%, while livestock production - by 4.4 percent, IPN reports, referring to data from the National Bureau of Statistics.
