What is your forecast for the business development in Moldova in 2011:
According to XPRIMM, a company, the insurance market of Moldova has increased by 10% to 61,4 mln. EUR within last year. The biggest volume of the insurance premiums fell to the Motor Third-Party Liability and made up 22,7% (228 mln. leis); it was followed by the Green Card - 18,8% (189 mln. leis).
DetailsThese findings are indicated by LARA, real estate agency. The average market value of 1 sq.m. of apartments in Chisinau has stayed at 614 EUR within January-April, 2011. In May, it declined to 610 EUR and kept the same till October to drop to 604 EUR. IN 2010, the average price of 1 sq.m. of residential housing in Chisinau reduced by approximately 6% from 653 to 614 EUR.
DetailsAbout $1 bln. 276,61 mln., that is 87,8% of the total volume of money transferred in 2011, against $1 bln. 072,24 mln. in 2010, were transferred via quick money transfer services, the National Bank of Moldova informs. Money transfers in Moldova made up $275,85 mln. in Q1, $367,38 mln. in Q2, $421,01 mln. in Q3 and $389,55 mln. in Q4.
DetailsThe increase in the indebtedness is explained by that fact that receipts of external loans were higher than payments on the external state debt payments by $34,52 mln., the ministry of finance informs. At the same time, decline in the exchange rate of USD against other currencies made up $8,22 mln.
DetailsThe respective resolution about the basis rate of NBM for long-term credits, interest rates of NBM and the norm of reserves required have been published in the Monitorul Oficial. NBM has also decreased the interest rates on overnight loans by 2 p.p. from 11,5%to 9,5%, annually; and on overnight deposits from 5,5% to 3,5%.
DetailsTo assign these means has become possible after the executive board of IMF has completed the the fourth reviews of Moldova's economic performance, the resident office of IMF in Moldova informs. The completion makes the disbursement immediately available for the authorities. The 3-year long program of IMF approved on January, 29, 2010 provides Moldova with the backing at an amount of about $572,7 mln. of which about $342 mln. were received by our country in 2010.
DetailsThis is one of the innovations of the year of 2012, Iulia Iabanji, general director of ODIMM has said during the Wednesday press conference. Priority will be given to export-oriented projects, projects applying new technologies, aimed at substitution of import and projects oriented at more efficient use of energy. The maximum sum of a grant will amount to 200 thou.
DetailsThe National Bank of Moldova has lowered its inflation forecast for 2012 from 6,5% to 4,9%, and it is projected to amount to 4,8% in 2013. The annual inflation rate will exceed the limits of the corridor set by the National Bank and make 5% ±1,5 p.p., Dorin Dragutanu, President of NBM informs.
DetailsAccording to the fiscal policy for 2012, in particular, starting from January, 1, the flat rate of excises on tipped cigarettes has grown from 10 to 20 leis for 1 thou. of cigarettes, with its ad valorum component, that is the interest rate from the customs value of the good) has increased from 18% to 24%. The flat rate of excises on non-tipped cigarettes has grown from10,5 to 20 leis for 1 thou. of cigarettes.
DetailsMoldova ranks fifth among EU countries in terms of foodstuffs prices' growth Moldova ranks fifth in Europe in terms of increase in the prices of foodstuffs, which went up by 7.4 per cent in 2011, according to a top elaborated by the RIA Analitica on the basis of data gathered from 33 states. Belarus ranks first in this top, with a 2.2-fold increase in the prices of food products, being followed by Turkey, which witnessed a 12.2 per cent rise in prices, Cyprus, with a growth of 12.1 per cent and Kazakhstan, which recorded a 9.6-per-cent increase.
DetailsThe forecast has been revised under conditions of more active deflationary process caused by possible recession of the Euro area and more modest growth in economy, the National bank of Moldova has informed. NBM projects the inflation rate for 2013 at 4,8%. More thorough assessment of the macro-economic situation, medium term forecasts of inflation, possible risks and challenges the monetary policy of Moldova may face in the next period are to be presented by the National Bank in its first in this year “Inflation Review”.
DetailsAccording to the National Bank of Moldova, in the same period, the share of non-performing loans in TRC reduced by 89 p.p., being 41,79%. Alongside with this, as of the end of December, non-performing assets equaled 6,74% of the total volume of assets(-2,24 p.p. since the beginning of 2011) and 44,19% of TRC (-14,39 p.p. since the beginning of 2011).
DetailsThis resolution was adopted today by the administrative board of the National bank of Moldova, which has assessed the current macroeconomic situation of the Republic of Moldova and the external economic environment, estimated the trends of the medium term macroeconomic indicators. In addition, the medium and short term inflation outlook has been quantified, as well as some possible risks and uncertainties that may arise in the next period.
DetailsThis has been announced by Marian Petrova, head of the department of fairs and shows of the Chamber of Commerce and Industry of Moldova. Experts have analyzed materials on all 86 files in the period from 19 till 25 of January. At the same time a public opinion poll among consumers has been carried out.
DetailsAccording to the resolution adopted by the cabinet ministers on Wednesday, this money are assigned to stimulate lending of producers of agricultural products by commercial banks, to insure risks in agriculture, to stimulate investment for establishment of perennial plantations, minister of agriculture and food industry Vasile Bumacov has said.
DetailsThe General Director of the World Trade Organization (WTO) Pascal Lamy considers that the worst effects of the economic crisis in the social and political sphere it will be ahead, RIA Novosti reported with reference to the Agence France Presse.
DetailsAccording to findings of the National Bureau of Statistics, in 2011 motor transport companies carried 5 mln. 139,9 thou. t of cargo, which is 15,6% more than in 2010. The biggest portion of cargo motor transportation fell to the municipality of Chisinau and made up 52,3%; then follow the municipality of Balti– 12%, the region of Singera – 9,7%, the region of Straseni – 4,5%, the region of Anenii Noi – 4,1%, the region of Taraclia – 2%, the regions of Causani and Ialoveni –1,8% each.
DetailsThey have shrank by $1,42 mln., that is by 0,07% since the beginning of this year. According to the National Bank of Moldova, as of January, 6, monetary reserves of NMB amounted to $1 bln. 966,9 mln., being $1 bln. 965,32 mln. as of December, 30, 2011.
DetailsAccording to findings of the Federal Customs Serves of RF within 10 months of 2011 as compared with the same period in 2010, Russia’s exports grew by 31,9% to $1 bln. 120,5 mln., with Moldova’s deliveries to Russia increasing by 11,3% to $355,3 mln.
DetailsAs Leonid Cerescu chairman of NCPM has said during the Friday’s press conference covering the crisis of the social dialogue and policies discriminating business, higher taxes create prerequisites for economic entities to withdraw into shadow, for reduction of jobs, suspension of companies’ activities.
DetailsThe wines preferential quota established for our country was used 92,9% in 2011. EU 50% increased the duty free wine deliveries quotas from 100 thou. in 2010 to 150 thou. of hectoliters in 2011, that is from 1 mln. tp 1,5 mln. of decaliters. . Over 65% of wine export fell to three countries: Poland (25%), the Czech Republic (23%) and Romania (19%).
DetailsVladimir Filat has said this as commenting on the forecast of the World Bank about slower economic growth in developing countries caused by debts problems in Euro area and weaker progress of some emerging markets. According to the Wolrd Bank experts, these problems may affect GDP rates in Moldova, as far as remittances from the Moldavians working aboard are projected to be reduced.
DetailsOfficial talks on signing the respective agreement are opening in late February, the ministry of economy informs. Participants in the preparatory meeting, representatives of EU, ministry of economy and other public institutions have discussed matters concerning the structure and the schedule of the talks, teams of negotiators and the technical assistance Moldova will be rendered during the preparation to the creation of the free and comprehensive trade zones.
DetailsAccording to the National Bureau of Statistics, in October-December, 2011 the fastest growth in prices was registered in housing development (14,2%), in agriculture (9,6%), in construction of social objects (8,7%), in transportation (8,3%), in trade and catering (6,8%) and in processing industry (6,2%).
DetailsAccording to the National Bureau of Statistics, as compared with December, 2010, average prices for industrial production increased by 8,1%. In December, 2011 prices in mining industry went up by 0,2% as compared with November, 2011 and went down by 1% as compared with December, 2010.
DetailsThis is provided by the amendments into the law regulating payments of sick leaves and other social insurance allowances, passed by the parliament in the ultimate second reading. According to Sergiu Sainciuc, deputy minister of labor, social protection and family, now an employer is paying for the second calendar day of the sick leave of an employee.
DetailsThis was said by Valentina Buliga, minister of labor, social protection and family, at Monday’s press-conference covering the regulations of the state social insurance budget for 2012. She has noted that the budget is planned to make up 9,82 bln. leis. Its revenues will be 7,2% more than in 2011, of which 73,6% will be social insurance contributions.
DetailsThe document provides the return of the flat rate of the tax on income at a size of 12% for legal entities, 7%-18% for sole proprietors and 7% for farm households. All previous general and partial fiscal privileges have been cancelled with the exception of those guaranteed for a definite term to free economic zones, of rate of interests on bank deposits and on corporate stocks.
DetailsAccording to the National Bureau of Statistics, in November, 2011, as compared with November, 2010, the growth of industrial production made up 3,5%. The growth of industrial production in the period of January-November, 2011 was determined by the 12,3% rise in production in mining industry and by 10,3%.- increase in production of processing industry. Alongside with this, this period was characterized by the 1,4% decline in production and distribution of heat and power production.
DetailsThe Chamber of Commerce and Industry of Moldova this has been discussed during the Friday’s Moldavian-Turkish business meeting about 30 businessmen from Moldova and Turkey took part in. The Turkish delegation has included representatives of 8 companies operating in the sphere of tourism, auto parts sales, kitchen furniture and door manufacturing, metallurgic industry, agriculture, namely in animal breeding.
DetailsIn January-November, 2011 the share of exports into EU states grew from 47,4% to 49,3% of the total exports and made up $987,4 mln., and the share of imports shrank from 44,7% to 43,8%, being $2 bln.042,6 mln.
DetailsOver 65% of wine export fell to three countries: Poland (25%), the Czech Republic (23%) and Romania (19%). According to the ministry of economy, within January-November, 2011 Moldova completely used the quota of 30 thousand tones given to it for maize supply to EU. This quota was fully drawn till the beginning of July.
DetailsAccording to the National Bureau of statistics of Moldova, as compared with October, 2011, the average wage grew by 2,2%. Adjusted to the inflation, its real size increased by 0,8% against indicators of November, 2010. In the public sector a monthly wage of November amounted to 2904,9 leis (+10,4% as compared with Novmber, 2010), and in the real sector it was 3382,5 leis (+9,5%). The highest average wage in November 2011 was given to the banking sector workers and made up 6432,4 leis (+6,5% against November, 2010).
DetailsIn December, 2010, inflation rate was 1,3% and Consumer Price Index grew by 8,1% within the year of 2012, the National Bureau of Statistics informs. In January- December of 2011, provisions prices grew by 7,4%, with nonfoods increasing in price by 5,2%; fees for services rendered to population rose by 11,6%. In December, 2011, prices for foods and nonfoods increased by 0,3% and 0,2% respectively.
DetailsThe law is coming into effort after its being published in the Monitorul Oficial. During the third reading reallocation of finds were made on particular items of expenses and on objects for capital investment. The size of the budget’s revenue and expenditures as well as its deficit remained unchanged. According to the fundamental financial document of the state for 2012, passed by the parliament, the revenue of the state budget in 2012 will make 21 bln. 367,3 mln. leis, expenditures will make 22 bln. 164,3 mln. leis, with the budget deficit being 797 mln. leis. As compared with 2011, next year the revenue will grew by 12%, the expenditures will increase by 8,9%.
DetailsAs the central Bank of RF informs, in 2011 remittances from Russia to Moldova via money transfer systems made $181 in Q1, $271 mln. in Q2 and $329 mln in Q3, whereas in the past year the same indicators made $137 mln., $195 mln. and $256 mln., respectively, which totaled $588 mln. within January-September of the pas year.
DetailsThe ministry of finance informs that this is stipulated by the fiscal policy for 2012, passed by the parliament in the final reading. Members of parliament resolved to raise the motorcar excises as well as oil products excises by 6,9% in the average so that to adjust them to the inflation rate predicted in 2012.
DetailsThe 2011 year was full of economic events for Moldova, such as: the official launch of talks on a Free Trade Agreement, also known as the Deep and Comprehensive Free Trade Area between Moldova and the European Union, the rapid growth of the exports against imports, the attainment of the highest economic growth in the region, as well as the problems concerning the protection of foreign investments against some raider attacks, the late adoption of the budgetary-fiscal policy for 2012, of the state social insurances budget and of the mandatory health insurances. The State News Agency MOLDPRES has ranked the most significant economic events of the year.
DetailsAccording to the National Bureau of Statistics, the living wage in urban areas is 14,4% more than that in rural ones and made up 1496,5 leis. In rural areas it made up 1307,9 leis. By categories of the population, the most expensive basket of goods is for people of working age and made 1454,6 leis, costing 1523,8 leis for men of the working age.
DetailsThis was announced by general manager of the organization on development of small and medium businesses of Moldova (ODIMM) Iulia Iabanji on Thursday. She has noted that the project “the Support of realization of the migration component and development within the partnership in mobility EU-Moldova” lasted from December, 2011 till December, 2011 and involved 544 people at the age of 18 to 30 from 24 regions of Moldova. 11% of them are entry-level businessmen and 53% are women.
DetailsMoldovan oil companies are very reluctant to decrease prices in order to subsequently reason slight price increases, according to the authors of a survey on the Moldovan oil market. The survey was unveiled at a roundtable the Expert-Grup Independent Analytical Centre organized today. Fuel prices "are the most rigid in Moldova as compared with the countries from the region".
DetailsFinance Minister Veaceslav Negruta and World Bank Country Manager for Moldova Abdoulaye Seck signed a financing agreement between Moldova and the International Development Association (IDA) in Chisinau on 20 December. The assistance is meant for the implementation of a project on strengthening the efficiency of the social assistance network. According to the Finance Ministry's press service, the project aims at increasing the access to quality and efficient healthcare services in order to decrease the death rates and the cases of premature disability, as well as at improving the management of transfers and social services provided to less well-off people.
DetailsAs the Ministry of Health inform, these funds will be allotted by the International Association for Development, a part of the World Bank, at regular terms for 25 years with the 5 year grace period and 0,75% service fee per year.
DetailsThis is stipulated by the intergovernmental agreement on economic and technical cooperation between the two countries which was signed by prime-minister of Moldova Vladimir Filat and the Ambassador of China to Moldova Fang Li in Chisinau on Thursday. They noted that the mission of the document constitutes in developing of friendly relations and technical and economic cooperation between Moldova and PRC.
DetailsThe General Director of the World Trade Organization (WTO) Pascal Lamy considers that the worst effects of the economic crisis in the social and political sphere it will be ahead, RIA Novosti reported with reference to the Agence France Presse.
DetailsAs InfoMarket was said in the ministry of economy, the wholesales were operated by four residents of the port. The volume of services rendered in the port in the framework of secondary activities made up 34,3 mln. leis. This kind of activity is thought to include the construction works the volume of which has made 7,5 mln. leis within 9 months of 2011.
DetailsThis was announced by executive director of the Millennium Challenge Foundation Valentina Badrajan on Tuesday at a press conference. She also said that the tender, comprising 4 lots, is available for companies and associations from Moldova and abroad. Within two years they are to construct 302 thou. square meters of the new roadway, reconstruct the road carpet at an area of 533,78 thou. square meters and the bridges (5,29 thou. square meters).
DetailsThe National Bureau of Statistics informs that in this period the coverage of import by export made 42,3% against 38,6% in the same period in 2010. Moldova’s export in this period made up $1 bln. 760,9 mln., which is 51,6% higher than indicators of the same period of 2010, with Moldova’s import growing by 38,3 to $4 bln. 162,2 mln.
DetailsAt the same time, as compared with September, 2011, the average wages shrunk by 0,1%, the National Bureau of Statistics informs. Adjusted to inflation, real monthly wages averaged by 1,4% against October, 2010. In public sector the average wage made 2794,2 leis(+11,4% against October, 2010), with an average salary being 3329,4 leis (+10%) in the real sector of Moldova’s economy.
Details| EUR | 15.7540 | +0.1038 |
| USD | 12.0104 | +0.0253 |
| RUB | 0.4008 | +0.0043 |
| RON | 3.6237 | +0.0198 |
| UAH | 1.4953 | +0.0037 |
Exchange rate of NB RM on 08.02.12
| In Chisinau |
-21,0 °
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| 08.02.12 | -20...-22 |
| Tomorrow | -17...-19 |
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