The net financial value of the national economy of Moldova at the end of the first quarter of 2023 amounted to minus 112 billion 278.6 million lei.
Such data are provided by the National Bank of Moldova, noting that the net financial value is the difference between total financial assets and total financial liabilities accounted for by a certain sector of the national economy. At the same time, according to the NBM, the net financial value of the national economy of Moldova continues its downward trend, as it decreased from -84 billion 145.1 million lei at the end of 2021 to -109 billion 569.8 million lei at the end of 2022, and then to the level of -112 billion 278.6 million lei at the end of the first quarter of 2023. The NBM indicates that the national economy still remains a net debtor to the "rest of the world". The dynamics of the indicator in 1Q 2023 was driven by a sharper increase in liabilities (+1.7% compared to the situation at the end of 2022) compared to the growth of assets (+1.5%). The Central Bank draws attention to the fact that the household sector continues to be a net creditor of the national economy, and the sector of non-financial commercial companies, the sector of financial companies and the public administration sector, as in previous periods, are in the position of net debtors. Herewith, the sector of non-financial commercial companies is the sector in which the largest negative net financial value (debtors) is still recorded, at the end of Q1 2023 it amounted to minus -262 billion 834.3 million lei (an increase of 0.9% compared to the end of 2022). The net financial value of the general government and financial companies sectors is also negative, so these sectors are net debtors. The negative net financial value of public administration increased by 7.4%, amounting to minus 49 billion 048.9 million lei, while the net financial value of financial companies decreased by 3.7% to minus -19 billion 296.8 million lei. This sector had the largest impact on the net financial value of the national economy, contributing minus -3.1 percentage points. Meanwhile, this decline was partially offset by a positive contribution (+2.1 pp) from the household sector. In this sector, a net financial value of 218 billion 901.3 million lei was recorded, an increase of 1.1%, compared with the value of 216 billion 550.4 million lei registered in the fourth quarter of 2022. The ratio of the net financial value of the national economy to gross domestic product in the first quarter of 2023 increased by 0.3 percentage points compared to the end of the fourth quarter of 2022 and amounted to minus 39.7%. The NBM notes that the structure of assets and liabilities of the sectors of the national economy differs depending on the type of core activity characteristic of the industry and the resources available to it. Thus, the assets of the household sector at the end of the 1st quarter of 2023 amounted to 258 billion 259.3 million lei (+0.9% compared to the 4th quarter of 2022), formed, for the most part, through equity participation, as well as from cash and deposits: 61.6% and 33.1%, respectively, of the total assets of this sector. At the same time, the liabilities of the household sector amounted to 39 billion 358 million lei (+0.4% compared to the fourth quarter of 2022), they mainly consist of contracted loans (93% of total liabilities). Financial assets of the sector of non-financial commercial companies amounted to 107.3 billion (+1.6%). In their structure, the main share is occupied by cash and deposits (44% of the total assets) and shares in the capital of other organizations (17.5% of the total assets). Herewith, this sector is the largest in the national economy in terms of its liabilities, which in the 1st quarter of 2023 amounted to 370 billion 134.3 million lei (+1.1%, compared to the 4th quarter of 2022), being formed, for the most part, at the expense of own funds (55.9%) and attracted loans (24% of the total liabilities of this sector). The financial assets of the public sector in the first quarter of 2023 amounted to 61 billion 234.1 million lei (-1.3%) and are mainly represented by shares in the capital of entities in other sectors (42.1%) and loans provided to the national economy (34.2%). The sector's liabilities increased by 2.4% and amounted to 110 billion 283 million lei. They were formed in the proportion of 50.8% contracted loans and 32.1% issued debt securities. The sector of financial companies at the end of Q1 2023 had financial assets in the total amount of 281 billion 503.7 million lei (+2.8% compared to the end of 2022), formed mainly from purchased debt securities (36.5%), loans issued (28.1%), cash and deposits (27.4%). Liabilities amounted to 300 billion 800.4 million lei, an increase of 2.3%. In their structure, the main share is made up of attracted funds and deposits, as well as the shares of other persons in the authorized capital, which amounted to 61.2% and 22.2%, respectively. //21.07.2023 – InfoMarket.
