Euromonitor, 4th quarter 2014 (#34)

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Publishing date: Tuesday, 17 February 2015
Views: 21475

Abstract

In July 2014, the National Action Plan for the implementation of the Moldova-EU Association Agreement which provides several relevant actions for justice reform, has been approved. However, the justice sector has little credibility in front of the public - according to Public Opinion Barometer from November 2014 - 70% of respondents do not trust at all, or to some extent, the justice system. In addition, the reform of the Prosecution Office is a major backlog, which besides massively eroding the confidence in the justice, missed EUR 1.8 million provided by the EU for implementation of reforms.

In terms of macroeconomic and macro financial-policies, we will mention the initiation of the initiation of the Medium-Term Budgetary Framework (2016-2018). However, the failure to adopt the 2015 Public Budget significantly increases the level of uncertainty and indefinitely postpones approval of significant changes in fiscal policy.

An important event related to industrial policy was signing the Sale Contract for natural gas between Moldova and Romania. The contract has entered into force on 1 January 2015, with a price of USD 276.6 per 1,000 cubic meters of gas. The same project also plans an extension of the Iași-Ungheni pipeline to Chisinau, in 2015. However, putting the pipeline in function hardly goes smoothly and the ongoing political crisis will delay the project.

Also, it is worth to mention the agreement signed between the Government and EBRD, in the amount of EUR 52.5 million for modernizing the Moldovan Railway. The agreement will enhance the rehabilitation of the railway infrastructure and the acquisition of the ten multifunctional train locomotives. EU also comes with a EUR 5 million contribution to this project. Still, the modernization process is jeopardized by uncertainty caused by problems in the company’s management.

 

Tags: Natalia Chitii

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