Moldovan state enterprises, commercial companies with majority state owned capital to be monitored according to new rules

Chisinau, 17 January /MOLDPRES/ - The financial monitoring of the state and municipal enterprises and companies will be carried out according to new rules, under a regulation on the financial monitoring of the self-financed public authorities, state/municipal enterprises and commercial companies with full or majority state owned capital, approved by the cabinet today.  

The document’s goal is basically the implementation of the recommendations by the Court of Accounts and completes the process of financial monitoring with a new source of information, namely the reports on the circulation of the public property, as well as the exercising of the duties by people empowered to represent the interests of the state/administrative and territorial units.

According to the Regulation, the Public Property Agency will annually present to the Finance Ministry a report on the performance indexes of the economic and financial activity of the state enterprises and commercial companies with full or majority state owned capital. At the same time, the Agency will report about the degree of achievement of these performance indexes and will inform about measures of mitigating the budgetary and tax risks related to the work of these entities.   

Analytical notes on the results of the financial monitoring of the economic and financial activity of the entities on the whole will be compiled once in half a year and annually.

The goal of the financial monitoring is to evaluate and analyze the budgetary and tax risks related to the economic and financial work of the state/municipal enterprises and commercial companies with full or majority state owned capital, which can have substantial effect on the budgetary and tax situation, as well as to analyze the patrimonial situation of the self-financed public authorities.   

According to the State Registration Chamber, reorganized through merger with the Public Services Agency, 1,580 state and municipal enterprises were registered in Moldova on 1 December 2017.   

(Reporter V. Bercu, editor L. Alcaza)