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Economy

PM Filip: Moldova will not receive the €100 million EU assistance this year

The Republic of Moldova is not going to receive the expected tranches from the 100 million euros macro-financial assistance fund provided by the European Union. At least, in 2017. Quoted by Reuters, Prime-Minister Pavel Filip stated that the fund will not be disbursed

Quoted by Reuters, Prime-Minister Pavel Filip stated that the fund will not be disbursed because the Moldovan authorities have not fulfilled all of the 30 required conditions from the agreement. Moreover, the Finance Minister Octavian Armașu told Reuters that the budget for 2017 had foreseen two trances coming in Moldova’s budget, expressing confidence one would be disbursed in early 2018.

The €100 million macro-financial assistance for the Republic of Moldova consists of 60 million euros in loans and 40 million in grants. Previously, the European Parliament together with the European Commission committed to close monitoring of the democratic character of reforms, such as the electoral system reform. The EU Parliament also underlined that the assistance should support Moldova’s commitment to sound public finance management, fight against corruption and money laundering, the de-politicisation of public administration, an independent judiciary, the freedom of the media. In addition, the Commission promised to temporarily suspend or cancel payments of the €100 million, if agreed conditions are not met.

The main condition put by the EU was for the Moldovan governing coalition to ensure a fully democratic change of the electoral system, with a full consensus of all political forces. A significant part of the Moldovan civil society and five opposition parties does not agree at all with the change of the electoral system but recommend the improvement of the current proportional system and the media environment. The governing Democrats and the “opposition” Socialists are instead going with the mixed system.

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

Economy

Moldova calls for an increase in export quotas on the EU market

The Republic of Moldova has asked the European partners to examine the possibility of increasing tariff quotas for a range of goods and products exported to the EU, as well as operating changes to the list of products subject to an anti-circumvention mechanism by increasing quotas for wheat, barley, corn, ethyl alcohol.

According to Deschide.MD, The request was made at the meeting of the Moldovan-EU Association Committee, in the Trade Configuration, which took place in Chisinau, is mentioned in a press release of the Ministry of Economy and Infrastructure.

The request of the Republic of Moldova was motivated by the fact that due to the constant support given by the EU and the structural developments, which have taken place in the last years in agriculture, the export potential of our country to certain categories of goods has considerably increased.

In this context, it was requested to increase tariff quotas for fresh grapes up to 25 thousand tons, fresh plums – 20 000 tons, cherries – 2 000 tons, as well as products subject to a circumvention mechanism – wheat – from 75 000 tons at 250,000 tons, barley – 70,000 tons per 100,000 tons, corn – from 130,000 tons to 250,000 tons, sugar – from 37,400 to 50,000 tons, processed cereals (alcohol) – from 2500 to 15 000 tons, etc.

It was emphasized that in the first eight months of this year, Moldova exported to the EU goods of about 915 million USD, representing 64.13% of our total exports, and within three years from the implementation of DCFTA the amount reaches about 3,8 billion USD.

The Agenda of the meeting also included a number of topics aimed at harmonizing national legislation in terms of intellectual property rights, public procurement, trade in services, quality infrastructure and market surveillance, trade-related energy issues as well as competition.

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Economy

Moldova Government pays back first tranche of “stolen billion” obligations to National Bank

On October 6th, Moldova’s Finance Ministry announced about transferring 668 million lei to the National Bank. The funds represent the first tranche of the so-called “payment of the stolen billion”: the Government pays back the central bank for the money loaned to the three banks that failed in 2014.

Out of the 668 million, 50 million lei accounted for the actual state obligations to the National Bank, while 618 million lei were for the interest rate for 2016-2017.

Although it is seen as a serious damage to Moldova’s finances and the use of taxpayer money, the payment allegedly helps to avoid the decapitalization of the National Bank that would lead to the incapacity to conduct adequate monetary policy, to receive international payments and even secure an agreement with the IMF.

Unpaid loans taken by Banca de Economii, Banca Socială, and Unibank from the National Bank in 2014 were transformed into public debt by the Government of Moldova with money from the National Bank. The payment of 13,5 billion lei would be made from the state budget during 25 years with a 5% interest rate.

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Economy

Moldova has fully fulfilled the plum export quota in the EU market

The Republic of Moldova exported 10 400 tonnes of fresh and dried plums on the European Union market by October 1. Thus, the plum export quota, which provides for 10 thousand tons, has been fully exploited.

Compared to last year, plum exports to the Community market increased by about 40 percent. In order to fulfill contractual obligations with European partners, growers are asking for an increase in the prunes export quota.

The largest quantities of fresh and dried plums were delivered to the Romanian markets (4240 tonnes), Poland (4300 tonnes), Latvia (610 tonnes), Czech Republic (373 tonnes).

Today, Moldovan plums are sold in 10 European Union countries, where the selling price is convenient for Moldovan fruit growers. Until now, the European importers have not yet complained about the quality of the Moldovan products.

Prunes are being exported by 96 companies, which have delivered around 40 thousand tons abroad since the beginning of the year. A considerable amount of fruit is exported to Russia, – 18415 tons, 9 thousand tons less than last year.

The geography of fruit exports has expanded, plums being exported for the first time this year to the US, Canada and other countries.

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