Connect with us

Economy

Good news! A motorway that connects European Union and Republic of Moldova could be built

Published

on

On November 7th, the representatives of the Romanian parliament adopted a law that enables the construction of a 318 km long motorway on the territory of Romania. 261 deputies out of 268 voted for promulgating of the respective law.

According to the designed project, the motorway will make the connection between a planned bridge at the border with Republic of Moldova and the A3 motorway Brașov-Borș in the neighbourhood of the city Târgu-Mureș. The most difficult segment of the road to be constructed will lay in the mountain area, where tunnel digging, and viaduct building will be needed.

The total planned cost for the motorway construction is estimated to be four billion dollars. The main financing sources include the Romanian Government budget through the Transportation Ministry budget, external loans, as well as European grants and/or public-private partnerships.

The planned motorway from Targu-Mures to the border of Republic of Moldova| Photo source: realitateafinanciara.net

During the implementation of the project, the yearly government budget law will specify the amount of appropriations that will be allocated to this objective, according to the financial necessities communicated by the Transportation Ministry. The latter will be responsible for the coordination of the works and for starting the procedures required for the investment within 30 days following the date of entry into force of the law.

The law in question was initiated by 70 senators and deputies from all parties that are members of the Romanian parliament. It was especially supported by the members of NLP (National Liberal Party) and SRU (Save Romania Union) that displayed unionist messages like “Moldova asks for the highway” and “The highway of the Great Union.” More information on the topic here.

As the motorways are designed for high speed vehicular traffic, they need a special infrastructure and a higher amount of investments than any other type of roads. In the European Union the number of motorways has tripled in the last 30 years, the most extensive motorway networks being in Germany, France and Spain, according to Eurostat.

Total length of motorways map (km) 2016| Photo source: ec.europa.eu

In Romania, the total length of the motorways is more than 786 km, according to the most recent data and the network is still planned to be extended.

Romania ‘s motorway map 2018| Photo source: 130km.ro

Republic of Moldova has no built motorways until this moment.

Featured photo source: startrescue.co.uk

Economy

How many millionaires are there in the Republic of Moldova?

Published

on

1 760.

1760 citizens of the Republic of Moldova obtained revenues of over 1,000,000 lei in the year 2018. The total income earned by these people was 6.140,000,000 lei and the tax paid to the budget from this income is the amounted to 479.710,000 lei, the State Tax Service announced.

According to the quoted source, the highest amount of income earned by a natural person in 2018 was 83.250,000 lei.

Territorial, most millionaires are registered in Chisinau – 1384.

The youngest person in this category is 21 years old and the oldest – 90 years old.

Accordingly, the average income of a taxpayer is 49.700 lei in 2018 compared to 44.800 lei in 2017.

Continue Reading

Economy

The past and the future of Moldova’s energy sector security

Published

on

The energy sector is one of the vulnerable areas of the Republic of Moldova because it could not provide national security in case of exceptional situations.

The energy vulnerability of the Republic of Moldova is caused by the dependence on natural gas and electricity from the outside, obsolete infrastructure and tariffs inadequate to economic rigors. The accession of the Republic of Moldova to the European Energy Community could represent the solution to many problems existing in the energy sector, says the political analyst of the IIDIS Viitorul, Ion Tăbârţă via the Newsletter.

Achieving commitments under the European Energy Community could ultimately lead to diversification of energy supply, demonopolization and liberalization of the energy market, separation of energy activities, renovation and modernization of infrastructure, non-discriminatory tariffs for consumers.

With the signing of the Association Agreement with the EU, the Republic of Moldova started transposing and implementing the provisions of the Energy Package III, adopted by the European Union in 2009.

The Republic of Moldova has achieved good results in transposing the European directives into national legislation, adopting several laws in the energy field. However, the Republic of Moldova is experiencing some delays in adopting sectoral energy laws, such as the Oil Law.

The reforming and modernization of the Moldovan energy system will be realized only after the implementation of these laws, when their functionality will be ensured. The Government of the Republic of Moldova and ANRE are the main institutions responsible for the implementation of the regulatory framework.

The implementation has several dimensions:

  1. development and approval of secondary legislation
  2. liberalization of the energy market and institutional and organizational consolidation
  3. modernization of energy infrastructure.

To achieve these goals, the energy interconnection with the EU must be achieved, which can only be done through Romania. The Government of the Republic of Moldova concluded in 2015 a Memorandum of Understanding with that of Romania. This implied the realization of 5 large projects that would ensure the interconnection of the natural gas and electricity networks between the two states.

What should the Republic of Moldova do for a more secure energy sector?

The Republic of Moldova needs to modernize and restructure it in order to overcome the inherited vulnerabilities of the past. Contrary to expectations arising from the national interest of the Republic of Moldova, this process is much slower than expected.

We have delays in the adoption of legislation, especially the secondary one, and delays in the modernization of energy infrastructure. This is particularly evident in energy interconnections with Romania, which could be viable solutions to many of the existing energy problems in the Republic of Moldova. Under the conditions that there is external support from the outside, such an attitude means that things are “intentionally entangled” inside. Money is capacity, the rest is at the mercy of political will.

Continue Reading

Economy

Moldova will receive a $70,000,000 loan from the World Bank

Published

on

The aim of the money is to increase electricity distribution capacity. According to a communiqué to the international institution mentioned above, the decision to grant the loan was approved yesterday by the World Bank Board of Directors.

A new high-voltage 400 kV line will be built from the WB money between Vulcanesti, in the south of Moldova and Chisinau. Also, the modernization and extension of substations in Chisinau and Vulcanesti are envisaged, as well as strengthening the energy transmission and metering system.

“The project will strengthen the capacity and reliability of local energy distribution in Moldova and will support the future interconnection of Moldova’s electricity system to the European electricity grid through Romania. This will be vital for the diversification of Moldova’s electricity supply, which will allow electricity to be supplied at competitive and transparent prices,” says the communiqué.

Over the last 27 years, the World Bank has granted the Republic of Moldova loans totaling over $1,000,000,000 for about 60 projects.

Currently, the World Bank portfolio includes ten active projects with a total commitment of $391.300,000. The areas of support include regulatory reform and business development, education, eGovernment, healthcare, agriculture, local roads, the environment, and others.

The commitment portfolio of the International Financial Corporation in Moldova includes five projects amounting to $17,000,000 (69% loans and 31% equity). The Multilateral Investment Guarantee Agency provided $95,000,000. Both institutions are members of the World Bank Group.

Continue Reading
Advertisement

Latest News

Justice20 hours ago

Maia Sandu asks the magistrates of the Moldovan Constitutional Court to submit their resignation letters

PM Maia Sandu was disturbed by the communiqué issued by the Constitutional Court. The report issued by the CC said...

Important3 days ago

Democrats leave government to the new coalition

The decision was taken after today's National Political Council of the Plahotniuc's party, announced Vladimir Cebortari, vice-president of the DPM.

Important3 days ago

Cristina Balan, the Moldovan ambassador to the US and former DPM vice-president, is ignoring new MFA’s recall for consultations in Chisinau

Moldovan Ambassador to the US Cristina Balan ignored the order of the new Moldovan Foreign Minister in the Government of...

Politics4 days ago

Andrian Candu, ex-President of the Moldovan Parliament, went on a secret visit to Washington

Based on what Plahotniuc had done over the past 10 years of reign over Moldova's public institutions, his sudden and...

Politics4 days ago

Vladimir Putin: “Power in Moldova has been usurped by oligarchs”

The Russian Federation welcomes the co-operation between the Socialist Party of Moldova and the 'ACUM' and is going to support...

Important5 days ago

What we need to know about the recent ECHR decision on behalf of Turkish teachers’ expulsion

Not many might remember, but quite a while ago, on the morning of September 6, 2018, seven Turkish citizens were...

Politics5 days ago

Ex-PM Filip’s Cabinet of Ministers had a secret meeting and approved two decisions

The now pseudo-government led by Pavel Filip organized a meeting yesterday, 11 June, without announcing it publicly. At the meeting,...

Advertisement

Opinions

Advertisement

Trending