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Actualizarea cadrului de transparență bugetară din Republica Moldova

Author(s): Dumitru Budianschi,Tatiana Savva / Language(s): Romanian

In the last period, society has noticed an increase in interest towards the activity of the authorities, in particular, towards the way in which they allocate and spend public money. In order to ensure budget transparency, it is crucial to have a regulatory framework that covers all stages of the budget cycle, as well as all the institutions involved. In the Republic of Moldova, there is a rather dense framework regarding transparency and access to information, which in the meantime has undergone multiple changes. The purpose of this study is to analyze the existing regulatory framework to identify the main gaps in ensuring budget transparency. // To accomplish this task, the description of the concept of budget transparency and its relation to other concepts and notions, as well as good practices on this subject, will be presented. Afterwards, the structure of the National Public Budget and the stages of the budget process will be briefly presented. The description of the regulatory framework for ensuring budget transparency will follow, in which the laws, government decisions and, as appropriate, other regulatory acts will be presented. The description of the meaning of budget transparency will be carried out in accordance with the current best practices promoted by the International Budget Partnership and other international organizations. Thus, as a result of the disclosure of the meaning of the concept of budget transparency, the transparency criteria will be identified, which will be used later in the evaluation of the regulatory framework in order to identify the gaps in the budget transparency regulation. // The study primarily analyzes the transparency of the budget process of the BS. At the same time, taking into account the importance and relations of this document with all the components of the budget system of the Republic of Moldova, the BPN will also be discussed, and, as the case may be, other components of the budget system.

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Another angle of the Pension System Reform: How can the private pension system boost financial system development?

Author(s): Dumitru Pintea / Language(s): English

The financial data for 20161 year prove that financial intermediation is impaired by some structural deficiencies, although banks accumulate excess liquidity, these still remain relatively expensive, with low maturity and finally unattractive to the real economy. In these conditions, to recover and develop, the financial system needs modern mechanisms and tools, in particular long-term financial resources that could support long-term investment projects. Moreover, amid relatively short maturity of bank deposits, low interest of companies in capital market and limited access to foreign capital markets, private pension system is still the most viable solution for long-term development of financial resources. // Thus, we find that although the pension system reform has recently intensified, it does not provide any incentives for development of the private pension system, and this study seeks to bring back to the public attention the importance of the private pension system, the gaps hindering its development, and solutions to strengthen social equity and provide a decent life in the post-active period. Also, some long-term liquidity is needed, resources collected through private pensions could also be a starting point for development and modernization of the domestic financial market.

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Are the Sanctions envisioned by Law enough to Deter the Bank’s improper Behaviour?

Author(s): Dumitru Pintea / Language(s): English

To protect the interests of depositors and to maintain the stability of financial system, the central banks or other assigned institutions have the duty to ensure the regulation and prudential supervision of commercial banks. These objectives can’t be achieved unless prudential norms and indicators are established, their compliance is monitored, and if appropriate, sanctions are imposed to prevent and limit the risks. In addition, taking into account the possibility to calibrate risks, the sanctions aim to correct the modus operandi of the bank as a whole, and individually, of key persons, who ultimately decide on the level of assumed risks. The international financial leaders have reached a consensus on the need to strengthen supervision and prudential regulation framework because of pressing negative effects and frequency of banking crises. The new Basel III Agreement is the outcome of many debates and covers a number of reference norms designed to reform and strengthen the worldwide financial industry. As regards the relevant intervention measures and sanctions, the new provisions aim to standardize both their level and implementation mode or triggering conditions. Though the new provisions fundamentally affect the bank’s profitability, a number of countries started to implement them in 2011, being aware of the need to maintain the macro-prudential balance.

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Assessing the Impact of recent Reforms in the Tax Administration

Author(s): Adrian Lupuşor / Language(s): English

During 2014-2015, the Main State Tax Inspectorate (STS) of Moldova, supported by SIDA, as well as other donors (World Bank, IMF, USAID/BRITE and EU), implemented a series of fundamental reforms. The interventions were primarily aimed at increasing the efficiency of tax administration and stimulating the voluntary fiscal compliance by easing the communication and interaction between fiscal authorities and taxpayers. This report aims to undertake an assessment of the net impact of these reforms. The analysis will be based on econometric, statistical, as well as qualitative methods, reflecting the evolution of the fiscal system in the last couple of years, with a primary focus on tax collections and interaction with the taxpayers.

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Atractivitatea investiţională a regiunilor din Republica Moldova

Author(s): Valeriu Prohniţchi / Language(s): Romanian

The purpose of this study is to analyze the investment phenomenon in the regions of the Republic of Moldova (let's specify that by the term "region" in this document we generally mean the districts, the municipalities, the autonomous territorial unit Gagauzia, as well as the development regions North, Center and South). In the first chapter of this study, an analysis of the evolution and current economic status of the regions of the Republic of Moldova is carried out. We also analyze the evolution of investments in these regions and, based on statistical data, we try to identify the key factors that attract or repel investments at the regional level. // The second chapter includes the rating of the investment performance of the regions of Moldova, a rating that the authors intend to update once every two years. The investment performance rating of the regions is based on the estimation of the current investment performance indicators, the investment dynamics in the period 2003-2008, the stability of investment flows in the same period, as well as the healthy diversification of investments in different sectors of the local economy. // Chapter three is focused on the analysis of the policy framework that influences the attraction and intensification of investments at the regional level. It begins with a brief exposition of those major developments in regional politics and decentralization that are relevant from the perspective of attracting investments. // Chapter three is focused on the analysis of the policy framework that influences the attraction and intensification of investments at the regional level. It begins with a brief exposition of those major developments in regional politics and decentralization that are relevant from the perspective of attracting investments.

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Autonomia financiară în Republica Moldova: evoluția veniturilor bugetelor locale

Author(s): Dumitru Budianschi / Language(s): Romanian

Currently, with reference to Local Budgets, in the Republic of Moldova there are practically 2 budget systems. One system works in Gagauzia and another for the rest of the country. The local authorities of Găgăuzia do not participate in the formation system of the Financial Support Fund of administrative-territorial units (FSF), instead Găgăuzia retains practically all taxes and state fees collected on its territory. Also, the authorities of Gagauzia benefit without restrictions from all the spending programs in the BS, having the same rights as LPAs in the rest of the country. The rest of the authorities, although they are covered by the same concept of budget formation, however, due to regulatory peculiarities, there are major differences in the structure of revenue formation for two other groups of local authorities: (i) for districts, and (ii) Balti and Chisinau municipalities.

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COMBAT HIV/AIDS, TUBERCULOSIS AND OTHER DISEASES. Civil Society and Private Sector Contribution to Achieving the National Targets of MDG 6 in the Republic of Moldova

Author(s): Tatiana Cernomoriț / Language(s): English

As stated by the participants throughout the study, the biggest difficulties in HIV/AIDS control/prevention refer to the insufficient financing and dependence of non-governmental organizations on donors in relation to the necessary financial resources, austere budgets of the donors; difficulties in assurance of social services sustainability in this sphere due to the lacking mechanism for procurement of social services by the state; structural/organizational barriers in the sphere of HIV testing services ; very limited educational programs in the area of general education; limited access for the young people and adolescents to youth-friendly health services.

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CREATE A GLOBAL PARTNERSHIP FOR DEVELOPMENT. Civil Society and Private Sector Contribution to Achieving the National Targets of MDG 8 in the Republic of Moldova

Author(s): Elena Culiuc / Language(s): English

Millennium Development Goal 8 (MDG 8) consists of six targets. The targets are intended to enhance the situation in several fields: (target 1) develop the financial and trade systems; (target 2) upgrade transportation and customs infrastructure; (target 3) monitor external debt; (target 4) reduce youth unemployment; (target 5) ensure access to essential medicines; (target 6) build an information society. // The particularities of MDG 8 derive from the diversity of issues included in this goal. Most targets have an economic essence (except the target aimed at access to medicines), nevertheless, it is difficult to ensure a continuity or connection among the issues subject to analysis. Such a variety of issues generated much confusion among the respondents. Thus, several business entities tend to under-estimate their contribution to MDG 8. Or, such respondents consider they have a direct impact solely on one target. In the same time, the in-depth interview showed that the activity of the company/SCO is to a certain extent related to two or even three targets of MDG 8. // This report makes the analysis of the role and contribution of civil society organizations and private sector to achieving the targets of Millennium Development Goal 8 „Create sustainable partnerships for development” (MDG 8). The major goal of the survey is to point out the contribution and the role of civil society organizations and private sector in achieving MDG 8.

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Despre cum se pierd banii publici: Sinteza rapoartelor Curții de Conturi, Semestrul I 2017

Author(s): Tatiana Savva / Language(s): Romanian

Two decisions out of the 10 published, concerned the way in which the institutions previously referred to in the audit reports implemented the recommendations submitted: the Agency for Interventions and Payments in Agriculture on the subject of the subsidies granted and the Ministry of Internal Affairs on the subject of real progress and prospects for the automation of processes in the field internal affairs. // This study, in turn, comes to present the synthesis of the main findings from the reports of the Court of Accounts on four themes: the way in which the money from the Mandatory Medical Assistance Insurance Funds is spent, how correctly the money from this fund was spent by the National House of Social Security, how the money was spent to restructure the wine sector and how well the National Food Safety Agency and its subordinate institutions manage the financial resources and assets under management.

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Dismantling the myths about Moldova’s trade failures after implementing the Association Agreement

Author(s): Adrian Lupuşor,Vadim Gumene / Language(s): English

The following comment aims to clarify some aspects reflected in the analysis ”Republica Moldova. Doi ani de la semnarea Acordului de Asociere cu UE” [eng. “Republic of Moldova. Two years after signing the Association Agreement with the EU”], published on the personal blog of the President of the Republic of Moldova, Igor Dodon, and to present the Expert-Grup’s counterarguments. We will only give our opinion on the statistical interpretations related to the development of the foreign trade after signing the DCFTA (EU-Republic of Moldova Deep and Comprehensive Free Trade Agreement), avoiding biased geopolitical speculations and visions. // Expert-Grup arguments on the published analysis and its original text are submitted below, paragraph by paragraph. The comment sometimes includes refutations and myths debunking, using official statistical data without any biased interpretations.

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Draft Law on Anti-Money Laundering and Countering Financing of Terrorism – Source of Economic Stability or Instability?

Author(s): Sergiu Gaibu / Language(s): English

The aim of this note is to provide recommendations on improvement of the draft law as well as of the certain elements of mechanisms present in Moldova on preventing and combating money laundering, so that to protect the fundamental rights, proper functioning of the business environment and to preserve a rational approach to prevention and combating the money laundering phenomenon. It is vitally important to understand the general context and the role of prevention and combating money laundering in such context. The primary goal of modern societies and states is to eradicate organized crime, drug trafficking, human trafficking, organ trafficking and illegal arms trafficking. In this context the international community developed services to identify and fight these crimes. Once the technologies were developed and the financial flows enhanced, it became obvious that the criminals’ ultimate goal is to bring the enormous income back into the legal ‘white’ circulation. And after realizing this fact, the combating of money laundering was organized and the money laundering activity was incriminated to attack the results of illegal activity.

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Economic Models of Aid Effectiveness in Moldova

Author(s): Theocharis Grigoriadis,Sergiu Gaibu / Language(s): English

In this paper, we provide an overview of the objectives and challenges to be met in the delivery of EU development aid to Moldova. Our analysis, carried out with pooled OLS, suggests that aid commitments and the number of aid projects are conducive to higher levels of socio-economic development; while the results for aid disbursements are in the same direction, they are less robust. EU development aid is effective when we introduce the three-year lag and the outcome variable is long-term investment, meaning that the impact of EU development aid can be observed in the medium and long-run, which points on positive and sustainable impact on the development of the country. Giving Central European bilateral donors such as Austria, Slovakia, and Romania a share in the programs does tend to generate higher levels of socio-economic performance. The same observation holds for transport, health, and water projects. The authors found that aid disbursements are much lower compared to aid commitments, revealing a large unexplored potential of EU development aid in Moldova, which is mostly due to governance issues in Moldova. In order to bridge the gap between aid commitments and aid disbursements, it is important for the European Union to bolster transnational sovereignty partnerships that bypass central government budgets and foster the implementation of local-scale projects with the participation of subnational bureaucracies and local civil society.

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ECONOMIC REALITY - Monthly Review of Economy and Policy - 2009-07

Author(s): Valeriu Prohniţchi,Alex Oprunenco,Ana Popa,Adrian Lupuşor / Language(s): English

Political campaign began long before the Central Election Commission announced its official start. Party leaders and public officials started the rush in fall 2008, making generous social and economic promises to the public. However, at the moment the battle is given for the hesitant voters which according to social polls account for 40% of the population able to vote. Obviously, the ruling party possesses sufficient communication, administrative and budgetary tools to gain most of these votes. For this purpose the ruling party is considering many tactics,including the economic manipulation of the electoral behavior.

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Eficiența și transparența sistemului de sănătate din Republica Moldova

Author(s): Dumitru Budianschi,Dumitru Pintea,Mihail Ciocanu,Silvia Morgoci,Tatiana Savva / Language(s): Romanian

Each country, depending on its historical course, state concept and economic development, has developed its own health system. Despite the fact that health systems are so diverse, they also have a lot in common, because they essentially perform the same functions and have the same goals. Thus, under certain conditions the exchange of experience between countries on solving similar problems or how to respond to common challenges are very useful. For the Republic of Moldova – a state in transition from a society based on state ownership and a centralized economy, the experience of other states on this subject is even more important because it can be used in the process of reforming the health system. // The purpose of this study is to contribute to the openness of the health system by providing an integrative view of the transparency of the health system and highlight the results and the way the system is financed and managed. Thus, the study addresses topics related to the functionality of the system as a whole, and less the specific areas of the health system. The study contains 5 basic chapters, the introduction and a chapter of conclusions and general recommendations. Each core chapter contains in turn a subchapter of specific conclusions and recommendations.

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ENSURE A SUSTAINABLE ENVIRONMENT. Civil Society and Private Sector Contribution to Achieving the National Targets of MDG 7 in the Republic of Moldova

Author(s): Iuliana Cantaragiu / Language(s): English

This survey includes an overview of MDG 7, and of the situation in the respective field, by tangential sectors to national targets of MDG 7. Further, we will attempt to assess the contribution that civil society organizations might bring to achieving MDG 7, giving examples of relevant activities to this end. We will reveal the potential of civil society organizations from the perspective of involving in the achievement of national targets of MDG 7. Afterwards, we will analyze the level of private sector development in the fields relevant for MDG 7, as well as its contribution to ensuring a sustainable environment. In that context, we will describe some case studies which might serve as examples for the whole private sector. Finally, we will summarize the contents of the survey and make some recommendations for the efficient involvement of civil society and business entities in achievement of national targets of MDG 7.

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ENSURE ACCESS TO GENERAL COMPULSORY EDUCATION. Civil Society and Private Sector Contribution to Achieving the National Targets of MDG 2 in the Republic of Moldova

Author(s): Anatol Gremalschi / Language(s): English

The survey’s goal consists in making an analysis of the contribution of civil society organizations and of private sector to achieving the targets of MDG 2 in the Republic of Moldova, identification of the constraints faced by non-governmental organizations and private companies while conducting relevant for MDG 2 activities and making recommendations for improving and expanding the collaboration among public authorities, associative sector and private sector in terms of ensuring universal access to preschool and general compulsory education.

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Este oare introducerea tichetelor de masă o deschidere a „cutiei Pandorei”?

Author(s): Alexandru Fală / Language(s): Romanian

At the beginning of February 2017, the President of the Parliament proposed the introduction of meal vouchers in the Republic of Moldova. In order to popularize the initiative and clarify the technical aspects regarding the use of meal vouchers, several public discussions were organized with representatives of government institutions, employers and unions. However, the introduction of meal vouchers remains an open topic, which at the moment causes conflicting opinions. // A brief analysis of the draft "Meal Voucher Law" highlights the weak analytical component of the normative act and the weak argumentation in favor of the introduction of vouchers. A first aspect refers to the extremely vague specification of the problem to be solved. In the informative note related to the draft law, the problems to be solved by the introduction of meal vouchers are presented in an equivocal way and without going into details. The note makes a general mention that the introduction of meal vouchers will solve: (i) fiscal problems (the reduction of the informal economy will increase VAT receipts), (ii) social (increasing the purchasing power of employees and economic) and economic (development of the food trade sector).

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EUROMONITOR 01 (2006/02/20)

Author(s): Igor Boțan,Iurie Gotișan,Valeriu Prohniţchi,Alex Oprunenco / Language(s): Romanian

This Report monitors the implementation of the European Union - Republic of Moldova Action Plan during 2005. The 10 areas identified in the Plan as a priority are analyzed. In the field of democratic institutions, the essential achievements are, in fact, a consequence of the “political partnership achieved by the parties represented in the legislative forum.

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EUROMONITOR 02 (2006/04/20)

Author(s): Igor Boțan,Iurie Gotișan,Valeriu Prohniţchi,Alex Oprunenco / Language(s): Romanian

The reports in the "Euromonitor" series aim at independent and objective monitoring of the implementation process of the Republic of Moldova - European Union Action Plan. The actions adopted and implemented by both signatories of the Plan will be monitored quarterly. The action plan is a complex document, structured in 7 chapters, which provides for the implementation of about 300 actions, some defined more or less precisely, others very ambiguous. Unable to monitor such a complex document, the authors of "Euromonitor" focused on priority actions, identified in the Action Plan itself (Priorities for Action, in English version Priorities for Action, page 3).

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EUROMONITOR 03 (2006/06/19)

Author(s): Igor Boțan,Iurie Gotișan,Valeriu Prohniţchi,Alex Oprunenco / Language(s): Romanian

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Publisher: EXPERT-GRUP Centrul Analitic Independent