InfoMarket Morning Brief | July 20, 2026

Macroeconomics

• Industrial producer prices rose 0.1% month-over-month and 0.3% year-to-date in June, but fell 0.4% year-over-year. In the energy sector, prices were 12.8% lower than in December 2025 and June of last year.

Energy and Resources

• During its first month of operation in the "day-ahead" electricity market, RED-Nord purchased 892.56 MWh—14.82% of its own consumption needs. The daily volume increased from 0.43 to 61.64 MWh, and in some sessions, the price was up to 70% below the market average.

• Energocom reported that gas prices on the European TTF market have risen by more than 70% over the past few months, and the forecast exceeds 55 euros/MWh. The company attributes its proposal to raise the residential tariff by 45.2%, to 20.93 lei per cubic meter (including VAT), to changes in procurement costs and the accumulation of expenses resulting from the delay in adjusting the tariff.

External Economy and Trade

• Exports to Romania in January–May rose by 6.3%, to 364.8 million euros, while imports increased by 6.2%, to 1,008.6 million euros. The bilateral trade deficit increased by 6.2% to 643.8 million euros; Romania remained Moldova's top trading partner for both exports and imports.

Government Regulation

• Prime Minister-designate Vasile Tofan presented his cabinet lineup: there will be new heads in four ministries, including Finance and Agriculture. Viktoria Belous has been nominated for the post of Minister of Finance, and Radu Mustață for Minister of Agriculture; a parliamentary vote is scheduled for July 21.

• Starting August 10, stores larger than 30 square meters must indicate the country of origin of food products directly on price tags. Fines will range from 3,000 to 4,500 lei for officials and from 6,000 to 12,000 lei for legal entities.

• The Court of Auditors has found the corporate governance model for state-owned companies to be insufficiently effective: central government agencies manage 224 enterprises and companies with state capital, while local authorities manage another 669. Low compliance with independent audit requirements limits access to data on financial condition and asset management performance.

International Relations

• The opening of negotiations with the EU on Cluster 6 involves aligning Moldova's trade policy with the EU's common policy. Accession to the single market should remove technical barriers and give Moldovan companies access to the markets of countries with which the EU has preferential trade agreements.

• Indian President Draupadi Murmu will arrive in Moldova with a delegation of approximately 40 businesspeople for talks and the Moldova-India Business Forum. In 2025, Moldova's exports to India fell by 82.2% to $0.25 million, imports rose by 8.6% to $80.28 million, and the trade deficit reached $80.03 million.

Investments and Projects

• Twelve business incubators will receive $386,000 for photovoltaic systems, energy storage units, heat pumps, and other energy-efficiency measures. Audits estimated the total required investment at 32.4 million lei; implementing these measures could save more than 1 million kWh and 2.8 million lei annually.

Banks and Finance

• As of July 10, the NBM's foreign exchange reserves stood at 5.21 billion euros, down 0.98 million euros over the week. Since the beginning of the year, reserves have increased by 108.64 million euros, or 2.13%.

• The National Commission for Financial Regulation (NCFR) fined Mogo Loans 250,000 lei for failing to comply with a regulatory order and ordered the company to refund customers any interest, fees, penalties, and other payments collected unlawfully. Contracts entered into after May 29, 2022, and in effect as of March 11, 2025, are subject to review if the regulator identifies violations in them.

Agriculture

• An audit of the agricultural fund revealed liabilities to producers totaling 3.03 billion lei as of November 1, 2025, with applications amounting to 3.4 billion lei—more than four times the available funding. In 19 of the 22 cases reviewed, the 60-day deadline for post-investment payments was exceeded by 87–385 days.

• Moldova Fruct has set a goal to increase fruit exports to 1.5 billion euros over the next five years and has demanded that subsidy debts be repaid, the 8% VAT rate be maintained, and procedures that delay irrigation projects by 10–12 months be streamlined. The association brings together more than 300 companies that account for about 57% of fruit production.

Business and Companies

• In 2025, Moldovan residents purchased 14.9 billion lei worth of goods online from abroad; domestic e-commerce totaled 3.5 billion lei; and the number of postal shipments reached 11.94 million. Revenues in the postal sector grew from 471 million to 941 million lei over two years; Nova Poshta and Fan Courier accounted for more than 80% of this growth.

• Revenues from fixed-line internet services rose by 5.8% in the first quarter, to 410.2 million lei. Moldtelecom's market share fell from 52.1% to 49.9%, while Orange Moldova's revenue increased by 19.7% to 56 million lei—the highest growth rate among major operators.

Social Economy

• Since the beginning of the year, the National Employment Agency's regional offices have helped place 13,013 people in jobs, including 4,044 unemployed individuals. The goal for 2026 is to facilitate the employment of 25,000 people; 37.6% of those placed in jobs were in collective, social, and personal services, while 15.9% were in agriculture.

The Day in Numbers

ANNOUNCEMENTS

• On July 20, Indian President Draupadi Murmu will visit Moldova; following talks, the heads of state will hold a press conference and open the Moldova-India Business Forum, attended by a delegation of approximately 40 entrepreneurs.

• On July 20 at 10:00 a.m., the National Bureau of Statistics will publish data on industrial activity for January–May 2026.

• On July 20 at 2:00 p.m., the National Bureau of Statistics will update data on construction activity for 2025.