Moldovan central bank's profit to be re-distributed

Chisinau, 6 March /MOLDPRES/ - A draft law proposing the establishment of a new way of allocating the profit available for distribution of the National Bank of Moldova (BNM) to the state budget today was passed in the second reading with the votes of 52 MPs. The opposition criticized the draft.

The draft law sets the mechanism of distribution of BNM’s available profit. If the statutory capital accounts for less than 4 per cent of all monetary bonds of the National Bank, the profit available for distribution will be fully allocated for increasing the central bank’s statutory capital. If the statutory capital is from 4 to 10 per cent from all BNM’s monetary bonds, 50 per cent of the profit available for distribution will be earmarked to increase the statutory capital and 50 per cent – to the state budget. If the statutory capital accounts for more than 10 per cent of all monetary bonds of the National Bank, the profit available for distribution will be fully transferred to the state budget.      

Preliminary findings, till the holding of the audit of the National Bank’s work for 2019, show an available profit for distribution of about 436 million lei.  

The draft law also sees amendment of the law on the issuance of state bonds, for the fulfillment by the Finance Ministry of the payment obligations coming from the state guarantees.