The National Bank of Moldova has once again raised its benchmark interest rate, bringing it to its highest level in the past three and a half years. The decision reflects a noticeable tightening of monetary policy: this article examines how the rate has changed in recent months and what levels the regulator has set in the past.
The National Bank of Moldova noted that the balance of risks for inflation in the medium term remains tilted toward rising prices, although the situation may change by the end of the forecast horizon. The regulator attributes this to external uncertainty and a number of domestic factors, and a new inflation review with an updated forecast will be published in the coming days.
Annual inflation in Moldova in September 2026 stood at 8.6%, up by 1.64 percentage points, compared to the previous month and, for the second consecutive month, exceeded the upper limit of the NBM's target range (5% ±1.5 percentage points)
The National Bank of Moldova has once again tightened monetary policy by raising the benchmark rate and adjusting a number of related instruments. The decision was made amid accelerating inflation and revised forecasts, though the regulator left reserve requirement ratios unchanged.
Another phase of the EcoVoucher program has concluded in Moldova, during which thousands of families were able to replace their old household appliances with more energy-efficient ones with government support. Authorities note that part of the unused budget will be allocated to the next phase of the program, and the cumulative impact is already evident in a noticeable reduction in electricity consumption and emissions.
Moldova has outlined a timeline and key steps for aligning its economic and monetary policies with EU standards as part of its accession negotiations. The discussion centers on changes to a number of fundamental laws and institutional mechanisms, on which the further course of European integration and the country's future commitments will depend.
Moldova's fiscal position, energy security measures and market trends are all moving in notable directions, with fresh data on budget execution, gas procurement and major infrastructure projects. The full review also highlights new tax rules, financing opportunities and sharp shifts in housing and transport activity that could matter for businesses and households alike.
Moldova is changing the rules for market access for agricultural and forestry equipment: mandatory type approval and oversight of compliance with safety requirements are being introduced for tractors, trailers, and a number of other machines. The new regulations also provide for the recognition of certain permits issued abroad and a simplified procedure for some types of equipment; however, the launch of the system will require additional budgetary expenditures and a transition period.
The IMF raised its GDP growth forecast for Moldova in 2026 from 1.5% to 1.7%, while lowering its forecast for 2027 from 2.3% to 2%
The IMF presented Moldova with recommendations on improving public financial management, with an emphasis on domestic debt sustainability, improving tax administration, reducing the budget deficit, and ensuring the sustainability of public investments
The Ministry of Finance has submitted amendments to the state budget for public consultation, providing for additional funding for local budgets to cover labor costs and social security contributions in the public sector. This involves the reallocation of funds to educational institutions and certain social and sports organizations amid the risk of a shortfall in appropriations by the end of the year.
Moldova's latest economic and policy updates point to a busy week ahead, with public finances, external balances and energy-market reforms all moving in parallel. New measures affecting cross-border payments, postal shipments and investment projects are also set to reshape the business environment in the coming months.
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