MoF AND NBM DEVELOP PROPOSALS FOR RELIEVING PRESSURE ON BUDGET AT REPAYING BONDS TO BANK

The Ministry of Finance and the National Bank of Moldova agreed on measures that should be taken for relieving the burden on state budget at repayment of government bonds and the interest rates on them to the bank, said Deputy Premier, Minister of Finance Sergiu Puscuta.

The minister refrained from disclosing details about agreements, saying that these should be harmonized with all the interested sides.

“The issue on mitigating the pressure on the budget in connection with the repayment of bonds and interest rates to the NBM was discussed at the Supreme Security Council chaired by President Igor Dodon in early December. The SSC decided that the Government and the NBM should come with real proposals for reducing the financial burden on the budget in connection with the execution of the Law #235. Currently, the MoF and the NBM developed their visions, without violating financial rules, observing bank capitalization, as well as interests of state and citizens”, the minister said.

Sergiu Puscuta said that the proposed moratorium on the Law #235 is a primitive attempt and unprofessional approach.

“The Government will be considering and resolving this problem in other way, not to imbalance the financial flows in the country. We regard as impossible the imposing of moratorium on fulfillment of this law, which implies the issuing of bonds worth 13 billion lei that are now in NBM assets. These securities exist, they are active. We will find a right decision for this issue”, the minister of finance stressed.