Moldovan economics ministry works out more post-crisis, re-launch measures in context of pandemic

Chisinau, 21 April /MOLDPRES/ - More immediate measures of backing the business environment, as well as the policies worked out by the Economics and Infrastructure Ministry (MEI) for the post-crisis and re-launch period, were unveiled by competent minister Sergiu Railean at a news briefing today. The measures provide for activities of support for the business environment and other sectors, needed in overcoming the difficult situation, triggered by the COVID-19 pandemic.    

„All of us go through an extremely complicated period, which will have serious consequences for the entire world economy. Or, the measures on which we have focused the efforts as a priority deal with the business environment. In this respect, we had more consultations with business associations, colleagues from the Finance Ministry and the World Bank, development partners and international financing institutions, economic experts,’’ minister said.   

According to Sergiu Railean, a string of fiscal, financial and banking measures were proposed to urgently back the business environment, as well as the mechanism of subsidizing the enterprises, in order to preserve the jobs and salaries.   

„These measures imply subsidies, postponements of taxes and duties, cutting the basic rate on loans. Thus, the salary taxes of the employees whose work was ceased following the decisions taken within the emergency state will be fully subsidized from the public budget. Sixty per cent of the salary taxes for the employees of the companies hit indirectly will be recovered. Also, the share of the values added tax (VAT) was reduced from 20 to 15 per cent for the HORECA sector. We have managed to simplify the procedure of registration of the essential medicines, we de-blocked the work of agricultural markets, so that the native farmers can sell their season goods,’’ the official noted.     

The economics minister also said that, at the same time, a wider working group had been set up, with the participation of the Finance Ministry, National Bank of Moldova, Economic Council under the Prime Minister, Agriculture, Regional Development and Environment Ministry, Health Ministry, business associations and economic experts. ‘’Through a string of programmes, we work on a consolidated plan to re-start the economy. The priority directions on which we focus are the small- and medium-sized enterprises, enterprises from the sectors hit and the ones of strategic importance,’’ Railean stressed.    

According to the economics minister, MEI proposes for the business environment: 100 million lei financing for the entrepreneurs active in the programmes of the Organization for Small- and Medium-sized Enterprises Sector Development (ODIMM), through banking grants and guarantees; 20 million lei for small- and medium-sized enterprises, the small producers will be helped to sell their products online through a new support programme; women entrepreneurs will benefit from grants, beginning from 165,000 lei up to 1,649,000 lei for buying technological equipment, software solutions, development and consultancy; fiscal facilities for the companies which support the native producers and providers of services; launch of more digitalization platforms in economy, trade, labour force market, etc.     

The minister also referred to the institution’s priorities in the sectors of energy, infrastructure, transports, international cooperation, stressing that all projects under implementation would be continued according to the schedule established.   

State of emergency is declared in Moldova on the period 17 March – 15 May, given the COVID-19 pandemic. The conditions of the emergency state dictated more restrictive decisions which hit Moldova’s economy.