{"id":235253,"date":"2004-12-21T11:13:00","date_gmt":"2004-12-21T11:13:00","guid":{"rendered":"http:\/\/new.moldova.org\/2004\/12\/21\/moldova-national-bank-adopts-monetary-and-currency-policies-for-2005-170-eng\/"},"modified":"2004-12-21T11:13:00","modified_gmt":"2004-12-21T11:13:00","slug":"moldova-national-bank-adopts-monetary-and-currency-policies-for-2005-170-eng","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/moldova-national-bank-adopts-monetary-and-currency-policies-for-2005-170-eng\/","title":{"rendered":"MOLDOVA: National Bank Adopts Monetary and Currency Policies for 2005"},"content":{"rendered":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

The National Bank of Moldova (BNM) adopted its monetary and currency policy for 2005, the bank announced in a press release. <\/p>\n

The monetary and currency policy for 2005 calls for a 45-percent growth of monetary mass M2 and a 41-percent rise of monetary base. The policy was drafted on basis of an inflation rate of 8.0-10.0 percent, forecasts on maintenance of tendencies regarding growth of population’s savings, and evolution of supply of foreign currency on domestic market similar to 2004, etc. <\/p>\n

The monetary and currency policy for 2005 was adopted on basis of the law on BNM, framework of medium-term spending for 2005-2007, 2005 state budget law, and the Economic Growth and Poverty Reduction Strategy Paper. <\/p>\n

Under rectifications to the monetary and currency policy for 2004, following indicators have been established: a 42-percent growth of monetary mass M2 till the end of this year on basis of a 8-percent growth of GDP; rise of the monetary base by 41.2 percent up to 5,370,000,000 lei; increase of national economy crediting volume by about 24 percent. <\/p>\n

Also, the monetary and currency policy of BNM for 2004 stipulates the release of a loan in lei worth 50 million dollars to the government for payment of the foreign state debt. <\/p>\n

The central bank notes that the permanent changes in the internal and external economic environment of Moldova required an operative adjustment of the monetary and currency policy of BNM for optimization of implemented measures. <\/p>\n

The list of internal factors which determined the rectification of the 2004 policy includes among others the net supply of foreign currency on domestic currency market from individuals due to the increasing remittances of Moldovan nationals, as well as exportation duties, which rose by 65.1 percent and, respectively, 24.3 percent in January-October 2004 compared with the similar period of 2003. The main external factors of influence comprise the difference between euro and dollar and growth of oil prices<\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>The National Bank of Moldova (BNM) adopted its monetary and currency policy for 2005, the bank announced in a press release.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-235253","post","type-post","status-publish","format-standard","hentry","category-economy"],"content_social_share":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

The National Bank of Moldova (BNM) adopted its monetary and currency policy for 2005, the bank announced in a press release. <\/p>\n

The monetary and currency policy for 2005 calls for a 45-percent growth of monetary mass M2 and a 41-percent rise of monetary base. The policy was drafted on basis of an inflation rate of 8.0-10.0 percent, forecasts on maintenance of tendencies regarding growth of population’s savings, and evolution of supply of foreign currency on domestic market similar to 2004, etc. <\/p>\n

The monetary and currency policy for 2005 was adopted on basis of the law on BNM, framework of medium-term spending for 2005-2007, 2005 state budget law, and the Economic Growth and Poverty Reduction Strategy Paper. <\/p>\n

Under rectifications to the monetary and currency policy for 2004, following indicators have been established: a 42-percent growth of monetary mass M2 till the end of this year on basis of a 8-percent growth of GDP; rise of the monetary base by 41.2 percent up to 5,370,000,000 lei; increase of national economy crediting volume by about 24 percent. <\/p>\n

Also, the monetary and currency policy of BNM for 2004 stipulates the release of a loan in lei worth 50 million dollars to the government for payment of the foreign state debt. <\/p>\n

The central bank notes that the permanent changes in the internal and external economic environment of Moldova required an operative adjustment of the monetary and currency policy of BNM for optimization of implemented measures. <\/p>\n

The list of internal factors which determined the rectification of the 2004 policy includes among others the net supply of foreign currency on domestic currency market from individuals due to the increasing remittances of Moldovan nationals, as well as exportation duties, which rose by 65.1 percent and, respectively, 24.3 percent in January-October 2004 compared with the similar period of 2003. The main external factors of influence comprise the difference between euro and dollar and growth of oil prices<\/p>\n

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