Economic Commentary, no. 38

The second quarter of the year 2008 has seen a reversal in the growing trend of the flows of money remitted from abroad by physical persons. After the record-breaking volume of USD 180.79 million in July, during the next four months the volume of money remitted from abroad has constantly shrunk, reaching only USD 111.03 million in November. How much should we be worried about these trends?

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Monday, 28 May 2007 00:00

Life After Remittances

Economic Commentary no. 18

The recent record-highs of the remittances sent back home by the Moldovan migrants prove that Moldova is yet competitive at least in one export category, which is the export of labor force. However, the important contribution of the remittances to the economic growth does not downplay the risks related to this model of development. Ignoring these risks may have repercussions changing the economic and social landscape in Moldova.

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The Court of Accounts of the Republic of Moldova has published 17 decisions in the 1st and 2nd quarters of 2012, which refer to the audit of the district budgets, public assets management by the district authorities, as well as some state enterprises, and to the regularity of public resources management by some Ministries. Significant distortions were traced in quasi-all reports of the Court. In this report, we synthesize the most important and largest irregularities and inefficiencies, which relate to (i) the malfunction of the procedures that incorporate goods, services and works procurement, as well capital investment; (ii) irregular and inefficient current practices of granting wage supplements and prizes; (iii) last, but not least, the faulty internal control that does not ensure the transparency of operations conducted by these entities.

Full version is available only in Romanian.

This document undertakes an analysis of the Governmental report on the execution of the 2011 state budget, with the purpose of understanding how transparent and informative are this class of reports, which are the main weaknesses and strengths of the current reporting process and how this process can be improved. The assessment is conducted using the international best practices and standards regarding the budget reporting. The general conclusion is that in Moldova the budget reporting process is quite formal, based almost exclusively on financial indicators and with little attention paid to the evaluation of performances in spending public money for achieving some policy results. One of the key recommendation resulting from this analysis is that Government should think of elaborating and publishing a report for Citizens, a report which would reflect in an inteligible manner how public resources and patrimony were used to achieve development targets in areas which are of outmost interest for citizens and private companies - poverty reduction, employment, and creation of a more conducive business environment.

Full version availably only in Romanian.

Ensuring transparency is a key responsibility of the Government and a tool for increasing efficiency and effectiveness of the use of the public financial resources. The purpose of the study presented herein is to conduct a quantitative and qualitative assessment regarding the transparency of the budget process in Moldova and to obtain a clearer image about Moldova’s position to other world countries. Evaluation is made based on a standard methodology - Open Budget Index that was developed by the International Budget Partnership. The document assesses the quality of the public's participation at every stage of the budgetary cycle. In broad terms, the country's position is not bad, however the transparency practices differ widely for different stages of the budgetary cycle. The study ends with a set of concrete policy recommendations to support the relevant state authorities to increase the transparency of the budgetary process and ensure a high-quality participation of the wider public in this process.

Full version is available only in Romanian.

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