{"id":266482,"date":"2012-10-23T11:22:26","date_gmt":"2012-10-23T11:22:26","guid":{"rendered":"http:\/\/new.moldova.org\/2012\/10\/23\/imf-suggests-tackling-reforms-in-moldova-by-maintaining-fiscal-sustainability-233592-eng\/"},"modified":"2012-10-23T11:22:26","modified_gmt":"2012-10-23T11:22:26","slug":"imf-suggests-tackling-reforms-in-moldova-by-maintaining-fiscal-sustainability-233592-eng","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/imf-suggests-tackling-reforms-in-moldova-by-maintaining-fiscal-sustainability-233592-eng\/","title":{"rendered":"IMF suggests tackling reforms in Moldova by maintaining fiscal sustainability"},"content":{"rendered":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

Moldova’s fiscal sustainability is fragile and quite vulnerable to moderate shocks, an IMF report has shown.<\/p>\n

According to the financial institution, the forecasted budget deficit of 3.8% of potential Gross Domestic Product is still high in 2012.<\/p>\n

“On the revenue side, VAT, the main source of tax revenue, has been lagging the dynamics in import and retail sales since early 2011,” the same report explains.<\/p>\n

The grants and mainly any other developmental assistance projects will have to be balanced out over the medium term.<\/p>\n

“Genuine economic trends (e.g., labor force and employment dynamics) as well as tax evasion are eroding the payroll taxes and pressures from special interests are putting CIT and PIT revenue at risk,” the IMF report shows.<\/p>\n

The International Monetary Fund draws attention to the current expenditure front. This includes the local public administration reform, the pension reform, as well as the extension of the education reform. The IMF suggests tackling these sectors by keeping fiscal sustainability that “should rely mainly on further reform-based rationalization of current spending.” <\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>Moldova\u2019s fiscal sustainability is fragile and quite vulnerable to moderate shocks, an IMF report has shown. According to the financial institution, the forecasted budget deficit of 3.8% of potential Gross Domestic Product is still high in 2012.<\/p>\n","protected":false},"author":3,"featured_media":266481,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-266482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"content_social_share":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

Moldova’s fiscal sustainability is fragile and quite vulnerable to moderate shocks, an IMF report has shown.<\/p>\n

According to the financial institution, the forecasted budget deficit of 3.8% of potential Gross Domestic Product is still high in 2012.<\/p>\n

“On the revenue side, VAT, the main source of tax revenue, has been lagging the dynamics in import and retail sales since early 2011,” the same report explains.<\/p>\n

The grants and mainly any other developmental assistance projects will have to be balanced out over the medium term.<\/p>\n

“Genuine economic trends (e.g., labor force and employment dynamics) as well as tax evasion are eroding the payroll taxes and pressures from special interests are putting CIT and PIT revenue at risk,” the IMF report shows.<\/p>\n

The International Monetary Fund draws attention to the current expenditure front. This includes the local public administration reform, the pension reform, as well as the extension of the education reform. The IMF suggests tackling these sectors by keeping fiscal sustainability that “should rely mainly on further reform-based rationalization of current spending.” <\/p>\n

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