Finances
NATIONAL BANK OF MOLDOVA BECAME FULL MEMBER OF INTERNATIONAL ASSOCIATION OF INSURANCE SUPERVISORS (IAIS)
The National Bank of Moldova (NBM) has become a member of the International Association of Insurance Supervisors (IAIS). It unites members from 200 jurisdictions, covering over 97% of the global insurance market. The association includes the International Monetary Fund, the World Bank, the European Commission, the Organization for Economic Cooperation and Development, insurance supervisory authorities, authorities of other jurisdictions.
detailsMOLDOVA MANAGED TO REDUCE CURRENT ACCOUNT DEFICIT FROM 17.1% OF GDP TO 11.9% IN 2023
Moldova managed to reduce the current account deficit from 17.1% of GDP to 11.9% in 2023. According to INFOTAG, this was mentioned by the World Bank (WB) in its review of the prospects for the Moldovan economy. It says that the reduction was mainly achieved due to an improved trade balance.
detailsMAIB'S PROFIT IN THE FIRST QUARTER OF 2024 WAS 349 MILLION LEI
Moldova's largest financial institution, maib, increased its net profit in January-March 2024 by 49.8% compared to the previous quarter. The bank's management board told the INFOTAG correspondent that the profit indicator reached 349 million lei (18.1 million euros).
detailsWORLD BANK FORECASTS MOLDOVA'S BUDGET DEFICIT IN 2024 TO BE WITHIN 4.1% OF GDP, AND IN 2026 - 3.1%.
Moldova's imports will exceed exports in the coming years, World Bank (WB) experts predict. In a report on Moldova's economic prospects, the bank forecasts an improvement in the income balance, which will be positively affected by the gradual recovery of remittances.
detailsU.S. DOLLAR WILL CONTINUE TO STRENGTHEN AS RESULT OF PRESERVATION OF SRF INTEREST RATES - NBM GOVERNOR ANCA DRAGU
“The U.S. dollar will continue to strengthen as a result of the preservation of SRF interest rates,” says Anca Dragu, Governor of the National Bank of Moldova (NBM). She said this on Tuesday evening while presenting the second inflation forecast for 2024 and 2025 to journalists of the Economic Press Club.
detailsNATIONAL BANK FORECASTS INFLATION IN 2024 TO REMAIN WITHIN THE TARGET RANGE OF 5% PLUS OR MINUS 1.5%
For the seventh month in a row, the inflation rate in Moldova remains in a steady falling trend, National Bank of Moldova (NBM) Governor Anca Dragu said. The banker presented the second forecast of the consumer price index for 2024 and 2025 at a meeting of the Economic Press Club on Tuesday evening, INFOTAG correspondent reported.
detailsMAIB COUNCIL CONVENES REGULAR ANNUAL MEETING OF SHAREHOLDERS FOR JUNE 19
The administrative board of Moldova's largest financial institution - maib convenes the next annual general shareholders' meeting for June 19. As the bank's administrative board told the INFOTAG correspondent, the meeting will be held at the central office of the financial institution in Chisinau, August 31 1989, 127 str.
detailsINFLATION IN MOLDOVA IN APRIL - 1.8%, AND ANNUAL - 3.5%
Prices in Moldova rose by an average of 1.78% in April, against 2.2% in March. According to the National Bureau of Statistics, inflation has amounted to 3.8% since the beginning of the year, while annual inflation (from April 2023 to April 2024) amounted to 3.51%.
detailsNATIONAL BANK GOVERNOR CONGRATULATES MOLDOVAN CITIZENS ON DAY OF PEACE AND UNITY IN EUROPE
"Congratulations Moldova! Congratulations Europe!," Anca Dragu, Governor of the National Bank of Moldova (NBM), addressed this congratulatory message to the citizens of the Republic of Moldova on May 9. The banker said that for her the Day of Peace and Unity in Europe this year has a "special significance."
detailsGOVERNMENT EXPANDS ACCESS TO FUNDING THROUGH THE "373" PROGRAM
The government expands access to financing for entrepreneurs through the "373" program. According to INFOTAG, the decree was adopted at the govermental meeting on Wednesday.
detailsNBM EXECUTIVE COMMITTEE REDUCES PRIME RATE TO 3.6%
The National Bank of Moldova lowered the prime rate applied to the main short-term monetary policy operations by another 0.15 p.p., down to 3.6% per annum - to 3.6% per annum. As INFOTAG reports, this was announced by NBM Governor Anca Dragu at the meeting of the Economic Press Club following the meeting of the Bank's Executive Committee.
detailsIMF MISSION: MOLDOVA'S ECONOMIC RECOVERY IS SLOWER THAN EXPECTED
The recovery of the Moldovan economy "is slower than expected, as the country continues to suffer the consequences of the war that Russia is waging in Ukraine and face difficulties in this situation, " according to a statement by IMF Mission Chief Clara Mira, following her visit to Chisinau from April 22 to May 3.
detailsTAX REVENUES TO NATIONAL BUDGET EXCEEDED 22.594 BILLION LEI BY BEGINNING OF MAY
Tax revenues to the national budget exceeded 22.594 billion lei by early May, which is 2.1 billion lei or 10.4% more than in the same period of 2023, according to operative data from the State Tax Service (STS).
detailsAIPA PROVIDED SUBSIDIES WORTH 247 MILLION LEI IN APRIL TO MORE THAN 900 FARMERS
The Agency for Interventions and Payments in Agriculture ((AIPA) transferred in April subsidies to agricultural producers totaling 247.25 million lei.
detailsLEADER OF “OUR PARTY” - THE RICHEST MOLDOVAN POLITICIAN, ACCORDING TO HIS INCOME DECLARATION
The chairman of “Our Party” Renato Usatii is the richest Moldovan politician. As INFOTAG reports, this is evidenced by his income declaration for 2023.
detailsIGOR GROSU INFORMS IMF MISSION ON SUCCESSES IN PARLIAMENTARY AGENDA
Parliament Speaker Igor Grosu met with the IMF mission led by Clara Mira, informing the mission “about the progress in the parliamentary agenda.”
detailsCAPITAL ADEQUACY OF BANKS IN MOLDOVA IS TWO TIMES HIGH THAN IN EU COUNTRIES – PARTNER OF THE FUND HORIZON CAPITAL (USA)
Capital adequacy in commercial banks of Moldova is two times higher than in the EU countries, said Vasily Tofan, senior partner of the investment fund Horizon Capital (USA), member of the Administrative Council of maib bank. In an interview with the Infotag agency, he said that the ratio of banks' own capital in the banking system of Moldova is approximately 30%.
detailsCAPITAL REQUIREMENT FOR BANKS IN MOLDOVA IS TWICE AS HIGH AS IN EU COUNTRIES - HORIZON CAPITAL FUND (USA) PARTNER
“The regulator's requirement to the capital of banks in Moldova is twice as high as in the EU countries,” said Vasile Tofan, senior partner of Horizon Capital investment fund (USA), member of the Administrative Council of Bank maib. In an interview with INFOTAG, he said that the ratio of banks' equity capital in the Moldovan banking system is about 30%.
detailsPARLIAMENTARY OPPOSITION ONCE AGAIN PROPOSES TO INCREASE THE PROFIT TAX FOR BANKS FROM 12 TO 18%
The parliamentary opposition represented by deputies of the Communist and Socialist Bloc has once again proposed to increase the profit tax for banks from 12% to 18%.
detailsNEW EBRD MANAGING DIRECTOR FOR UKRAINE AND MOLDOVA WAS APPOINTED ARVID TUERKNER
The European Bank for Reconstruction and Development (EBRD) has appointed Arvid Tuerkner as Managing Director for Ukraine and Moldova. As reported by the INFOTAG agency, Ukraine is a priority investment destination for the bank.
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