Key events and trends of 2025
Comment by InfoMarket Agency
In the complex, intense, and very fast-paced 2025year, the popular technique of “but”—a way of neutralizing negativity by shifting the focus of attention—was used everywhere. It was difficult, but interesting. Not everyone managed to accomplish what they had planned, buteverything came to pass fast. Through excessive factuality and convincing public discourse, the authorities sought to pass off some illusory achievements as successes, while the opposition sought to pass off even solid foundations for development projects as failures. InfoMarket agency traditionally presents the main events and trends of the outgoing year.
The central event of 2025 - the parliamentary elections. This is a political event, but it will have a profound impact on all areas of the country's development. As in the previous year, 2024, when presidential elections and a referendum were held, Moldova's European vector was at stake, and with it all projects, programs, reforms, and development plans. And although, on the whole, the pro-European aspirations of the ruling Action and Solidarity Party (PAS) were upheld, the election campaign and the results of the elections showed how polarized Moldovan society remains and how successfully political players of various stripes are exploiting this polarization. The 12th Parliament consists of six factions, with PAS holding the parliamentary majority.
Moldova received nearly €290 million from the EU in advance financing for its Growth Plan, as it met four reform benchmarks (relating to the development of open and competitive electricity and gas markets, as well as measures to ensure energy security). In total, the Growth Plan, approved by the European Commission in the fall of 2024, provides for the provision of up to €1.9 billion in grants and loans to Moldova. This is the largest EU financial support package for the country. The money will be provided as Moldova makes progress on the negotiation clusters. In 2021-2025, the EU allocated €1.2 billion in grants to Moldova.
In 2025, Moldova did not receive the last two tranches totaling about $170 million from the International Monetary Fund. The authorities claim that this did not affect the country's budgetary stability and that, as part of the advisory mission, IMF experts announced their intention to relaunch discussions with the country’s authorities on resuming cooperation, including the conclusion of a new program. The IMF stated that the authorities' fulfillment of their remaining commitments in the area of tax policy and governance, including the development of the Anti-Corruption Prosecutor's Office, had been postponed. The expert community criticized the authorities' calmness, as relations with the IMF are a signal of trust or distrust in the authorities.
Moldova's economic growth remains below potential. Moldova's GDP grew by 2% in real terms in January-September 2025 compared to the same period last year, and is expected to grow by approximately 2.7% by the end of 2025. The forecast reflects an acceleration in economic growth amid relative stabilization after the pandemic and against the backdrop of the war in Ukraine. The agricultural sector is expected to be the main contributor to GDP growth in 2025, with the agriculture industry expected to grow by approximately 15%. The construction sector is expected to grow by 8%, and industry by 3%. Minister of Economic Development and Digitalization Eugen Osmochescu (incidentally, the third head of the ministry in 2025) noted that this confirms earlier ideas about the need to reorient Moldova's economy from consumption to innovation and production.
Moldova has received ratings from three leading international rating agencies for the first time. S&P Global Ratings assigned a BB-/B credit rating with a stable outlook, Moody's assigned a B3 rating with a stable outlook, and Fitch Ratings maintained the country's rating at B+ with a stable outlook. Although each agency points to risks of a rating adjustment, this is a historic event for Moldova's financial reputation.
Failures in the justice system and reform of the prosecutor's office. In 2025, the external assessment of the integrity of judges and prosecutors continued. The vetting commission began reviewing 185 candidates, of whom 65 resigned or refused to participate. In February, Veronica Dragalin, head of the Anti-Corruption Prosecutor's Office, resigned after speaking out against the creation of a single prosecutor's office to fight corruption and organized crime. She also had a conflict of opinion with the relevant ministry and even with the head of state. An external assessment of the financial and ethical integrity of prosecutors also began, but fears about asset checks led to a wave of voluntary resignations. Meanwhile, in December, the Venice Commission criticized the authorities' initiative to merge the two prosecutor's offices. The mass departure of judges and prosecutors led to an overload of work for those who remained and caused discontent among businesses due to the slowdown in court proceedings.
Protests by farmers, transport workers, teachers, and lawyers. The protests in Moldova in 2025 reflected the gap between macroeconomic stability and the real situation in key sectors. Farmers protested against rising fuel, electricity, and credit costs, delays in subsidies, and import pressure. Transport workers protested against frozen tariffs amid a sharp rise in transportation costs and demands from the Ministry of Infrastructure to improve transportation conditions, while teachers and researchers demanded higher salaries and income indexation amid inflation and staff shortages. In the summer, the Law on the Bar, approved by parliament, sparked a massive indefinite protest by the Bar Association. As a result, President Maia Sandu did not promulgate the bill and returned it for further revision.
The trial of Plahotniuc has begun, and Shor has left... but promised to return. In early December, fugitive politician Ilan Shor, convicted in absentia in a bank fraud case, announced that he was winding down his “social projects” in Moldova. The main enemy of Moldova's pro-European agenda, who has been in Russia since 2019, was the main visible instrument of influence on the electorate in a number of regions of Moldova, primarily in Gagauzia. Shor and dozens of his supporters are under sanctions from the EU, the US, and the UK, and his assets in Moldova have been frozen by the tax authorities. His network, under the guise of humanitarian and social assistance, was involved in bribing voters, thus forming a loyal electorate. EvgheniaGutul, Bashkan(Governor) of Gagauzia, and DmitriiConstantinov, former chairman of the People's Assembly of Gagauzia, both associated with Ilan Shor, as well as dozens of Shor's supporters involved in party cells, received prison sentences (under various articles of the Criminal Code). The recipients of cash payments were fined and faced criminal charges. Shor's assets in Moldova, which he owns through affiliated persons, have been frozen. It is difficult to say how Shor will act in the future, if at all, including in the early local elections to be held in 2026 and the general local elections in 2027. Another figure in the billion-dollar theft case, former Democratic Party leader and fugitive oligarch Vladimir Plahotniuc, has been less fortunate. He was extradited from Greece and his trial has begun.
Change of players in the natural gas market. Since January 1, 2025, there have been significant changes in Moldova's gas sector: Gazprom has stopped direct gas supplies to Transnistria due to restrictions on transit through Ukraine, which has led to a crisis situation in the region. Incidentally, Transnistrians are once again entering the new year, 2026, in a state of crisis. At the same time, on the right bank, as part of the implementation of the EU's Third Energy Package on the separation of gas supply, transport, and distribution activities, Moldovagaz lost its license, and the state-owned company Energocom took over the authority to supply gas to consumers for three years. At the same time, Moldovagaz's gas distribution functions were transferred to the Romanian company Vestmoldtransgaz.
The energy sector is a leader in progress. The energy sector has achieved strategic and symbolic successes. Moldova also marked its debut on the electricity market in 2025: on December 10, Energocom made its first transaction on the Day-Ahead Market (DAM) of the Moldovan Electricity Market Operator (OPEM), purchasing a symbolic 1 MWh. There have also been days when domestic energy needs were 100% covered by renewable sources produced within the country. In 2026, another 44 MWh of storage batteries will be installed, which will produce 170 MW of renewable energy. In addition, the construction of the Vulcanesti-Chisinau high-voltage line is in its final stages – this is a crucial strategic project for Moldova's energy security. The 400 kV line, 157 km long, is designed to connect the south of the country to the central power grid, which will allow electricity to be imported from Romania and strengthen the country's energy independence and sustainability.
In 2025, state budget funds and development partners made it possible to implement numerous infrastructure development projects in the country's villages, continuing previously launched programs. Through the Organization for Entrepreneurship Development, small and medium-sized enterprises received grants totaling 346.4 million lei, and within the framework of State Program 373, 736 preferential loans totaling 2 billion lei were issued. A regional business support scheme was launched and subsequently adjusted. At the same time, some USAID-funded programs were reformatted due to the US suspending its support. Exports of services exceeded exports of goods for the first time, and in October Moldova joined the Single Euro Payments Area (SEPA), which made it easier for citizens and companies to make faster, safer, and cheaper payments in euros, etc. At the same time, poverty levels in the country have risen, real wage growth has been modest due to inflation, life in Moldova remains extremely expensive, and instability persists due to the lack of structural reforms and predictability of tax measures and policies in some areas.
We are entering the new year on a slightly worn-out and lame horse, but with the ambitions of a racehorse. Given the serious commitments to European partners and the traditional tightening of policies after an election year, 2026 will be a year of speed, unpopular reforms, and tests of endurance. Not everyone will be able to keep up, and we will have to get rid of everything superfluous, save energy, and focus on efficiency. And, as the new head of the Moldovan government, AlexandruMunteanu, said in his first public speeches, we are shifting into fifth gear, as there is a lot of work ahead.
InfoMarket wishes everyone success, optimism, good health, the fulfillment of plans, and good news in 2026!
