Economie Moldova.org(English)

US jobless rate hits highest level since 1983

Fri, 06 Nov 2009 20:17:00 +0200

By Jim Randle The U.S. unemployment rate rose sharply in October, hitting 10.2 percent, the highest level since 1983. Friday's report from the Labor Department says U.S. employers cut fewer workers in October than the prior month, but the overall economy still lost 190,000 jobs. While the unemployment rate is rising, the pace of layoffs has slowed from early this year, when nearly three-quarters of a million jobs were lost in January. Economist Lakesman Achutha says the hike in the...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Russian labor market: Why unemployment is lower than expected

Wed, 04 Nov 2009 23:44:07 +0200

By Paul Goble In the early 1990s and especially over the last year, many Russian commentators and politicians have competed among themselves in predicting extraordinary increases in unemployment, in both cases to figures comparable to those which the American and other Western economies suffered during the Great Depression. But certain specific features of what a Russian scholar describes as “the Russian model of the labor market” – including greater flexibility in...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Young gain job advantage in post- communist societies

Wed, 04 Nov 2009 20:17:22 +0200

By Peter Fedynsky The symbol of Communism - the hammer and sickle - represents the main tools of physical labor used by industrial and agricultural workers. But the collapse of the Iron Curtain 20 years ago coincided with a decline in heavy industry and the rise of the Internet and knowledge-based companies. The Gdansk Shipyard, birthplace of the Solidarity Trade Union that led the struggle against Communism in Poland, was a place where thousands of workers could expect a lifetime of...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Share of foreign investments in moldovan banks increasing

Tue, 03 Nov 2009 15:14:15 +0200

According to the National Bank of Moldova (NBM), the share of foreign investments in the Moldovan banks in January-September increased by 1.1% up to 75.2%. According to the NBM administration, the average indicator of capital sufficiency is preserved very high with taking risks into consideration - 31.7%, whereas the minimum of 12% reflects the banks' potential investment possibility without losses of their capital, even in case of operation with high risks. The decrease in the aggregate net...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

IMF resumes financing for Moldova

Thu, 29 Oct 2009 14:53:56 +0200

The International Monetary Fund (IMF) resumes the financing of Moldova, whose GDP does not exceed $1.8 thousand per capita of the population. On Wednesday Head of the International Monetary Fund (IMF) mission to Chisinau, which worked in Moldova on October14-28, Nikolai Gueorgiev said at a joint conference with Moldovan Prime Minister Vlad Filat that the mission and the Government arrived at concerted terms of the Memorandum, which envisages an assistance for Moldova in the amount of 369.6...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Moldova: Businesses against tax on reinvested profit

Thu, 29 Oct 2009 14:49:15 +0200

The taxation of economic entities' reinvested profit may be resumed not earlier than in 2011, Deputy Minister of Finance Viorel Dandara told Infotag. He remarked that the cancellation of the zero tax rate is inevitable under the conditions of the decrease in the budget revenues and the high expenditures. "In the principal, this privilege may be preserved, but only provided a better solution for replenishing the budget is found", Dandara said. In his words, the income tax will be...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

IMF to support Moldova with a 3-year credit facility of $588 mil.

Wed, 28 Oct 2009 15:24:36 +0200

An International Monetary Fund (IMF) staff mission headed by Nikolay Gueorguiev and the authorities of the Republic of Moldova have reached preliminary agreement on a new economic program that could be supported by combined three-year Extended Credit Facility/Stand-by Arrangements,1 totaling SDR 369.6 million (equivalent to about US$588 million). The agreement reached with the authorities is subject to approval by the IMF management and Executive Board, which could consider the request for the...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Moldova's budget deficit hits a record high, 16% of the GDP

Wed, 21 Oct 2009 09:41:28 +0300

By the beginning of October the deficit of the public budget constituted about 2.8 billion lei ($252.2 million), the social insurance budget - 700 million and the medical budget - 250 million, Minister of Finance Veaceslav Neguta unveiled such data. He said that the national budget revenues for nine months constituted 16.6 billion lei that is 47.6% less against the target. The annual target of expenditures was executed by 55% and accounted for 19.4 billion lei. He explained the complicated...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Chisinau City Hall receives grant of $3.6 million from China

Tue, 20 Oct 2009 12:37:20 +0300

Chisinau general mayor Dorin Chirtoaca said that he has recently received a set of documents from State Minister Victor Bodiu on a Chinese non-refundable grant of 3.6 million dollars (20 million yuani). The proceeds are meant for road traffic supervision systems in the Chisinau municipality. The general objective of this project is "to implement up-to-date technical means to supervise road traffic in order to prevent the violation of traffic rules by drivers." Former Prime Minister...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Vlad Filat: Moldova holds constructive dialog with foreign donors

Tue, 20 Oct 2009 12:28:18 +0300

The Moldovan Government has held an open and constructive dialog with the representatives of the World Bank, International Monetary Fund and donor countries, Prime Minister Vlad Filat stated on Monday evening. Throughout the day, the meeting between Moldovan Cabinet members and officials from the WB, IMF and donor countries was held at the Chateau Vartely Company in Orhei town. "We discussed the economic and financial situation in Moldova. The republic has found itself in such a poor...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

EBRD forecasts economic growth in Moldova in 2010 BY 1.5%

Mon, 19 Oct 2009 11:27:47 +0300

The economic growth in Moldova may constitute 1.5% in 2010. Such are the data of the 2009 EBRD Transition report, which will be published in November. According to the bank's press release, EBRD Chief Economist Eric Berglof considers obvious that the social consequences of the global financial and economic crisis will be felt particularly next year, when the number of corporate bankrupts and the unemployment will increase. EBRD Experts forecast the GDP fall for Moldova in 2009 by 8.5% after...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Russia to lend Moldova 150m dollars

Mon, 12 Oct 2009 10:24:23 +0300

Russia will grant Moldova 150m dollars as a state loan in 2009. Moldovan Prime Minister Vlad Filat and Russian Deputy Prime Minister and Finance Minister Aleksey Kudrin reached an agreement to this effect on 9 Oct. 2009, the Moldovan government's press service has reported. "Governments are coming and going and it is important for them to retain links between them," Filat said, having in mind the agreement on granting a 500m-dollar loan between the previous Moldovan authorities and...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Japanese government grants $213.9k to Moldova

Thu, 08 Oct 2009 17:40:34 +0300

The Japanese Government has allocated a grant in the amount of $214 thousand to Moldova for the implementation of three projects in the frame of the Kusanone free small-scale assistance. Mr. Tadashi IZAWA, Ambassador Extraordinary and Plenipotentiary of Japan to the Republic of Moldova Japanese Ambassador said at the ceremony of the signing of agreements that $84.6 were allocated for the upgrading of the equipment in the surgical block and intensive therapy section of the National...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Moldova's temperature in the "CIS economy"

Thu, 08 Oct 2009 17:36:50 +0300

The results of eight months of the CIS economic life do not differ considerably from the deplorable results for the first half-year, experts, who analyzed the data, published by the CIS Statistic Committee, came to this conclusion. Compared with the same period of 2008, the GDP in the CIS countries dropped on the average by 9%, the industrial output - by 14% (in the first half-year of 2008 the growth constituted 6%) and only the inflation level was on the average 0% against 1% in the last year...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Gazprom dominates Russian political power making

Thu, 08 Oct 2009 16:46:48 +0300

By Roman Kupchinsky In 2003 a team of Russian foreign policy and energy experts wrote a 70 page memo about the role of Gazprom, the state-owned gas monopoly, in Russia’s domestic politics and the country’s foreign policy strategy. The document was distributed to a limited number of consumers and was never published. It is in the possession of the Jamestown Foundation. The findings in the memo remain relevant to this day for they touch upon the very nature of political power in...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]