The Ministry of Finance of the Republic of Moldova has been granted the right to change the approved state budget indicators for revenues and expenditures at the rate of grants, donations, sponsorship funds received for the Energy Vulnerability Reduction Fund.
In particular, this is stipulated by the amendments to the Law on State Budget for 2024, approved earlier by the Parliament, which took effect after publication in Monitorul Oficial (the Official Journal of Moldova). They stipulate that the Ministry of Finance is entitled to redistribute, upon reasonable proposals of the Ministry of Labor and Social Protection and the Ministry of Energy, the allocations approved in the Energy Vulnerability Reduction Fund in order to implement the measures stipulated in the Law on the Energy Vulnerability Reduction Fund. In addition, the Ministry of Finance has the right to change the approved state budget indicators for revenues and expenditures at the rate of grants, donations, sponsorship funds received during the fiscal year in order to implement measures to reduce energy vulnerability with an increase in allocations for the Energy Vulnerability Reduction Fund. As previously reported by InfoMarket, the Parliament adopted amendments to the Law on State Budget for 2024 to support vulnerable energy consumers with new donor funds without changing the budget deficit. According to the author of the draft law, PAS MP, Chairman of the Parliamentary Commission for Economy, Budget and Finance Radu Marian, with the support of the United Nations Development Program, agreements between Moldova and development partners were signed earlier, aimed at increasing the possibilities of supporting vulnerable energy consumers. Sweden and Italy are going to provide Moldova with grants worth about $8 million 852.1 and 4 million 320 thousand euros, respectively, for the implementation of measures to reduce the energy vulnerability. In order to utilize these grants, it was decided to amend the law on the state budget, including the relevant funds in the state budget revenues and expenditures for 2024, without changing the budget deficit. The draft law also provides for authorization for the Ministry of Finance to redistribute the allocations approved in the Energy Vulnerability Reduction Fund among the Fund's measures upon reasonable proposals of the Ministry of Labor and Social Protection and the Ministry of Energy. // 27.03.2024 - InfoMarket.
