Veaceslav Ionita: The money of the Moldovan diaspora provides 15-22% of all revenues to the national public budget
The economic policy expert of the Institute for Development and Social Initiatives (IDIS) Viitorul presented an analysis of the impact of the diaspora on the economy of Moldova. He examined the statistics in the context of discussions on whether the diaspora has the right to vote in elections in Moldova, and stated that the diaspora is a true friend of our country. According to Veaceslav Ioniță, in 2000, the volume of net currency transfers to individuals amounted to $153 million, and by 2008 it had grown to $1.6 billion lei, and similar revenues were registered in 2023, as well as for the third quarter of 2024. He specified that this is only part of how the contribution of those who emigrated from Moldova is expressed. They also transfer cash or bring the permitted amount of up to 10 thousand euros in person. This is also confirmed by the indicators of net sales of foreign currency by individuals, which are significantly higher than official money transfers: in 2000 it was $258 million, in 2023 - $2.8 billion and at the end of the third quarter of 2024 - $3.1 billion. The expert analyzed the data and found out that foreign transfers exceed income from salaries in Moldova, as well as the volume of the country's exports. "From 2004 to 2017 inclusive, transfers from abroad exceeded salaries paid in Moldova. For example, in 2008, transfers from abroad amounted to 29.8 billion lei, and Moldovans' income from salaries within the country was 19.2 billion lei. "In 2013, transfers from abroad amounted to 44.3 billion lei, income from salaries at home - 27.4 billion lei, in 2018, transfers from abroad - 46.1 billion lei, income from salaries - 42.3 billion lei," said Veaceslav Ioniță. Having correlated diaspora transfers and Moldovan exports, the economic analyst also concluded that remittances exceeded exports in 2005-2014. The diaspora's contribution to the national public budget in 2000-2004 amounted to 15.5% (6.1 billion lei), and they were formed by income received from spending by people who received money from abroad. In 2005-2009, this figure was 22.5%, in 2010-2014 – 22.1%, in 2015-2019 – 16.6%, in 2020-2024 – 13.4%. “And although the percentage is decreasing, since remittances are about 20% lower than before, today 1 out of 7 lei allocated from the national public budget comes from the diaspora, which comes to the budget in the form of taxes,” Veaceslav Ionita emphasized. // 08.11.2024 – InfoMarket.
