The NBM welcomed the decision to grant Moldova the status of an EU candidate country and declared its determination to further effectively promote the European integration of the Republic of Moldova.
“Last evening there was a huge jump in the European course of our country. I am happy with this vote of confidence from the European Union in Moldova. This vote lets us know that we need to work even harder, drive development and modernization, and bring innovation home. The National Bank of Moldova has managed in recent years to strengthen its potential and bring the banking sector closer to EU standards. We will continue to strengthen the stability and functioning of the banking sector, strengthen its confidence,” NBM President Octavian Armasu said. According to him, thus, in the near future, the National Bank will focus its efforts on maintaining macroeconomic stability and strengthening the financial sector, including through further harmonization of financial legislation with EU standards. The NBM enjoys constant and valuable support from EU partners. As the President of the NBM emphasized, one of the main economic conditions that a candidate country must meet is the existence of a functioning market economy, as well as the ability to cope with competitive pressures from the EU market. Another condition is the ability to assume the obligations of an EU member state, including commitment to the goals of political, economic and monetary union. It is also necessary for the candidate country to adopt European legislation and ensure its effective implementation through the appropriate administrative and judicial structures. Octavian Armasu noted that in this context, the NBM is actively involved in the development and maintenance of a strong, stable and competitive financial and banking sector, designed to promote the development of a functioning market economy - an important factor on the path to European integration. During these few years of Moldova's existence, the NBM has been a constant participant in internal legislative, institutional and functional changes aimed at achieving the economic criteria for EU accession. The NBM has consistently promoted and continues to promote compliance with EU best practices.// 24.06.2022 — InfoMarket.
