InfoMarket Economic News Agency morning review based on the previous working day: key news, important economic indicators and upcoming events. Available by subscription: plus@infomarket.md // +373 79 119 100 // Every day at 7 a.m. - in your inbox.
Macroeconomics
• Industrial producer prices rose by 0.1% month-on-month and by 0.2% year-on-year in August; since the beginning of the year, the increase amounted to 0.7%. In the extractive industry, prices have risen by 7.8% since December, while in the energy sector they have fallen by 12.8%.
• Following the NBM's increase of the base rate to 9%, Expert-Grup expects a period of weak economic growth amid stronger inflationary pressure; the expert points to higher financing costs for the state budget and loans.
Energy and Resources
• This fall, the first pilot grant program for passive houses will be launched, providing 12 grants of 1.2 million lei each. Under the Casa Verde program, 1,292 projects have already been approved under Component I across two calls, while the grant for energy modernization of a private home covers up to 50% of the investment, but no more than 200,000 lei.
Foreign Economy and Trade
• Moldova Railways facilitated the export of 47.50 thousand tons of agricultural products and the transit of 24.77 thousand tons of cargo from August through mid-September; wheat accounted for 23.55 thousand tons of exports.
• Moldovan exports to China in January-July increased 1.8-fold to 7.5 million euros, while imports from China rose by 13% to 827.4 million euros; the trade deficit reached 819.9 million euros.
Government Regulation
• The tax and customs authorities are preparing a new regime for international postal shipments: from October 1, a special VAT regime is planned for distance B2C sales of imported goods valued at up to 150 euros. The 20% VAT will be collected and remitted to the budget by the intermediary or postal operator.
• Businesses using TREMOL S-KL cash registers must deregister them by September 30 and switch to certified equipment connected to the MEV electronic sales monitoring system.
International Relations
• The European Union has awarded Moldova a 20 million euro grant for the reconstruction of sections of the North-South railway corridor along the Vălcineț-Ocnița-Bălți-Ungheni-Chișinău-Căinari route; the project is linked to connecting the country's infrastructure to TEN-T.
• To date, the EBRD has financed 199 projects in Moldova worth more than 3 billion euros; its current portfolio includes 76 active projects worth approximately 1.33 billion euros.
Investments and Projects
• Meltin Factory, a producer of frozen fruit snacks, plans to bring investment in its Chișinău production facility to 1-1.1 million euros: nearly 800,000 euros has already been invested, with another 200,000-300,000 euros needed to complete the production line. The company employs about 40 people.
• A 19.79 million lei contract has been signed for the maintenance of a 10-km section of the R3 road in the Cimișlia District; the work will be financed from the Road Fund and completed within three months.
Banks and Finance
• The NBM's foreign currency reserves stood at 5.42 billion euros as of September 11, down 5.11 million euros over the week; since the beginning of the year, they have increased by 311.76 million euros, or 6.1%. An all-time high of 5.42 billion euros was recorded on September 4.
Agriculture
• The Ministry of Agriculture and Danube Logistics are working on expanding grain transshipment capacity at the Giurgiulești port, including temporary berths and measures to ease congestion on export routes; the operator proposed short-term and medium-term options for increasing capacity.
Business and Companies
• Polistiren-Construct received a 0.5 million lei grant for a new production line with a total cost of 3 million lei. The company operates in two shifts and exports its products to Romania and Ukraine every month.
Day in Figures
5.42 billion euros — NBM foreign currency reserves as of September 11. | 47.50 thousand tons — agricultural products exported by rail from August through mid-September. |
20 million euros — EU grant for reconstruction of the North-South railway corridor. | 19.79 million lei — contract for maintenance of 10 km of the R3 road in the Cimișlia District. |
1-1.1 million euros — total investment by Meltin Factory in production in Moldova. | 12 x 1.2 million lei — grants under the pilot passive-house construction program. |
819.9 million euros — Moldova's trade deficit with China for 7 months. | 3 million lei — cost of Polistiren-Construct's new production line. |
AGENDA
• September 21 is the final day of the current subscription period for individuals to purchase government bonds via eVMS.md; issues with maturities of 1-4 years and annual interest rates of 7.45-7.85% are available.
• September 21 is the deadline for submitting recommendations to the NBM on draft amendments to bank governance rules concerning the content of recovery plans, including group-level plans.
• On September 21, until 17:00, the Ministry of Finance is accepting proposals on a draft order being developed under the Accounting Law.
• On September 21, until 11:00, bids are being accepted for rehabilitation, energy-efficiency and modernization works at a lyceum under an education-sector project procurement; public opening of the bids is scheduled for the same time.