Connect with us


Moldova Socialists submit motion on economic policy



15 February 2018- The caucus of the Socialists’ Party of Moldova submitted to the Parliament a simple motion against the policy conducted by the Economy and Infrastructure, led by minister Chiril Gaburici. The Socialists are complaining about the “disastrous” economic state of the country.

According to Socialist MP Vasile Bolea, the year of 2017 was a total failure because of the over-taxation and cut capital investment policies.

“The submission of this motion represents our will to call on the minister to participate in a debate to explain the causes for economic disaster, to talk about the state of the national economy, jobs, the cut public investment, about the state enterprises that are sold for small money. The policy is going in the wrong direction and does not represent the interests of the citizens”, declared Bolea.

The motion is reportedly being sent to the Government.

Chiril Gaburici was sworn in as Economy minister at the beginning of January 2018.

Currently studying International Relations at the University of Pécs, Hungary. Study focus: Transnistrian conflict settlement, Moldovan statehood, Moldovan democracy.


The economy of the Republic of Moldova increased by 4.5% in 2017



The economy of Moldova registered an increase of 4.5% in 2017 compared to 2016, the GDP exceeding 150 billion lei, according to the National Bureau of Statistics.

The most significant share in GDP growth was recorded by retail, maintenance and repair of motor vehicles and motorcycles, transport and storage, accommodation and catering – with a contribution of 1,3 points percentage of GDP growth.

For the years 2018-2020, the Ministry of Economy and Infrastructure forecasts an increase in the economy by 3-4%.

Continue Reading


Over 20 million US dollars from Moldova’s electricity bills ended up in offshore firms’ accounts// RISE

Over 20 million dollars from electricity invoices paid by Moldovan consumers have reached the accounts of offshore companies. The money was removed from the Victoriabank accounts of a company in Tiraspol that has been interfering with the supply of energy for several years in Moldova.



RISE outlined the scheme by which the buffer company in the separatist region became the main electricity supplier overnight, earned millions of profits and hid them in tax havens.

Only around 20% of the country’s total electricity demand is produced on the territory of the Republic of Moldova on the right bank of the River Nistru. In recent years, the battle for Moldova’s electricity supply contract has usually been made between two regional players: a representative of the Ukrainian group DTEK, which is part of the business empire of Ukrainian billionaire Rinat Akhmetov, and the Cuciurgan plant, which is owned by the giant Inter RAO UES, controlled by the Russian state.

Source: MediaCenter (The Cuciurgan plant)

How EnergoKapital appeared in the scheme:

After the spring of 2014, when the Ministry of Economy announced that between April 1, 2014, and April 1, 2015, the Republic of Moldova bought electricity from DTEK Vostokenergo and from the Cuciurgan plant, due to the crisis in the Eastern Ukraine that degraded into an armed conflict, in autumn of 2014, DTEK has completely ceased delivery of energy to the Republic of Moldova. Consequently, DTEK’s contractual obligations were taken over by the Cuciurgan Power Plant.

At this point in the scheme, an intermediary appeared – the company EnergoKapital in Tiraspol, which was founded in October 2014, a few weeks before the DTEK ceased its deliveries. Founders of the company that emerged overnight were Bas-Market SA in Tiraspol, with offshore shareholders, and Ornamental Art Limited in Hong Kong.

In the following years, the EnergoKapital’s license was prolonged four times, with the left bank becoming the main electricity supplier in the Republic of Moldova. Thus, from the end of 2014 until the end of March 2017, EnergoKapital delivered energy worth about 400 million dollars to the consumers on the right bank of Nistru.

The offshore compromise

Victor Parlicov, the former director of the National Energy Reglementation Agency, claims that such schemes have happened in the past, but the emergence of EnergoKapital as an intermediary is also due to some misunderstandings between business partners in Chisinau, Tiraspol, and Moscow.

Former director of EnergoKapital in 2014-2016, Mihail Dobrov, now head of Dnestrenergo, an enterprise that manages Transnistrian energy transport networks, refused to speak on this subject.

Criminal law in Chișinău

The criminal scheme by which Moldova was supplied with electricity also came into view of the law enforcement bodies, the General Prosecutor’s Office, stating beforehand that the EnergoKapital intermediary figured in a criminal case. Vladimir Mosneaga, prosecutor at the Office for Combating Organized Crime and Special Causes, refused to rule on the file, suggesting that RISE should wait for the official response.

Continue Reading


2017: EU almost equals CIS at individual money transfers to Moldova



Structure of net transfers of funds from abroad to individuals by geographic areas, 2017 %, Source:

The National Bank of Moldova (NBM) published the report on the individual money transfers from abroad to Moldova in 2017. NBM reports that around 1199 million USD were sent to individuals in Moldova.

Some 85,2% of the money was transferred via money remittance systems (USD, EUR or RUB). The currency structure of money transfers (recalculated in USD) was as follows: USD – 570,54 million, EUR – 522,37 million, RUB – 94,40 million and other currencies – 12,66 million.

The National Bank noticed a continuation of the downward trend of transfers from the CIS countries, while the EU transfers increased by 20,3% compared to 2016.

Dynamics of transfers from CIS and EU in to of individuals (2012 – 2017 annual dynamics; 2017 monthly dynamics), %

Money transfers from other states (except for the CIS and the EU) totaled 30,7 percent in 2017:

Structure of net transfers of funds from abroad to individuals by geographic areas, 2017 %,

96,2% of the CIS transfers originated in Russia.

Within the money transfers from the EU countries, Italy accounts for the largest share of 34,9 percent, being followed by the United Kingdom (14,0 percent), Germany (13,9 percent), France (8,1 percent), Spain (3,3 percent), Ireland (3,0 percent), Poland (2,8 percent), Czech Republic (2,6 percent), Portugal (2,5 percent), Romania (2,4 percent), Belgium (2,1 percent), Cyprus (1,8 percent) and Greece (1,3 percent).

Moldovan remittances still heavily rely on the Russian market: 402,63 million USD (or 33,6% of money transfers) originated in Russia. Other leading remittance sources are: Israel – 17,1 percent (205,02 million), Italy – 12,0 percent (143,83 million), the USA – 7,9 percent  (95,13 million), United Kingdom – 4,8 percent (57,88 million), Germany – 4,8 percent (57,56 million), France – 2,8 percent (33,60 million), Turkey – 1,3 percent (15,30 million) , Spain – 1,1 percent (13,74 million), Ireland – 1,0 percent (12,31 million).

Dynamics of money transfers (top three states) to individuals (2012 – 2017 annual; 2017 monthly), %, Source:

Continue Reading

Latest News

Tourism18 hours ago

Air Moldova passengers will be able to travel to 95 more destinations in 44 countries

After a bilateral agreement was signed between Air Moldova and Fly Dubai, Air Moldova passengers will have the opportunity to...

Politics2 days ago

President Dodon’s warning: I will form a National Front of Resistance for all citizens who are against the Union with Romania

The Moldovan Union leaders have recently announced the most significant unionist demonstration since the independence of the Republic of Moldova,...

Economy3 days ago

The economy of the Republic of Moldova increased by 4.5% in 2017

The economy of Moldova registered an increase of 4.5% in 2017 compared to 2016, the GDP exceeding 150 billion lei,...

Society6 days ago

Chisinau placed third in a top of the European cities of the future

The capital of Moldova was ranked third among the middle-sized cities in Europe in terms of costs and efficiency, according...

Politics7 days ago

Minister of Justice Alexandru Tanase announced his resignation

On Sunday morning, Alexandru Tanase made an announcement on Facebook about his resignation from the position of Minister of Justice. In his...

Society1 week ago

March 8: Women’s March of Solidarity

“We do not want flowers, we want equal rights,” This was one of the messages displayed on banners and chanted...

Justice2 weeks ago

Mihai Poalelungi was appointed the judge of the Constitutional Court

Mihai Poalelungi, the only registered candidate for the position, was appointed as the judge of the Constitutional Court of the...