{"id":17891,"date":"2026-02-21T14:00:11","date_gmt":"2026-02-21T11:00:11","guid":{"rendered":"https:\/\/mld-index.info\/?p=17891"},"modified":"2026-02-21T10:18:32","modified_gmt":"2026-02-21T07:18:32","slug":"misterele-economiei-moldovenesti","status":"publish","type":"post","link":"https:\/\/mld-index.info\/ro\/analytics\/misterele-economiei-moldovenesti\/","title":{"rendered":"Misterele economiei moldovene\u0219ti"},"content":{"rendered":"

Vin sau pleac\u0103 investitorii?<\/h3>\n

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\u041e\u0434\u043d\u0430\u043a\u043e \u043c\u043e\u043b\u0434\u0430\u0432\u0441\u043a\u0438\u0435 \u0436\u0443\u0440\u043d\u0430\u043b\u0438\u0441\u0442\u044b \u0443\u0432\u0438\u0434\u0435\u043b\u0438 \u0438 \u0434\u0440\u0443\u0433\u0438\u0435 \u043f\u0440\u0438\u0447\u0438\u043d\u044b \u043e\u0442\u0442\u043e\u043a\u0430 \u0438\u043d\u043e\u0441\u0442\u0440\u0430\u043d\u043d\u044b\u0445 \u0438\u043d\u0432\u0435\u0441\u0442\u043e\u0440\u043e\u0432 \u0438\u0437 \u0441\u0442\u0440\u0430\u043d\u044b. \u0412\u044b\u044f\u0441\u043d\u0438\u043b\u043e\u0441\u044c, \u0447\u0442\u043e \u0421\u043e\u0432\u0435\u0442 \u043f\u043e \u043a\u043e\u043d\u043a\u0443\u0440\u0435\u043d\u0446\u0438\u0438 \u043d\u0435\u043e\u0431\u043e\u0441\u043d\u043e\u0432\u0430\u043d\u043d\u043e \u043d\u0430\u043b\u043e\u0436\u0438\u043b \u0448\u0442\u0440\u0430\u0444 \u0432 \u0440\u0430\u0437\u043c\u0435\u0440\u0435 268 \u043c\u0438\u043b\u043b\u0438\u043e\u043d\u043e\u0432 \u043b\u0435\u0435\u0432 \u043d\u0430 \u043a\u043e\u043c\u043f\u0430\u043d\u0438\u044e SEBN MD, \u0430 \u0440\u0443\u043a\u043e\u0432\u043e\u0434\u0441\u0442\u0432\u043e \u0421\u043e\u0432\u0435\u0442\u0430 \u043f\u043e\u0442\u0440\u0435\u0431\u043e\u0432\u0430\u043b\u043e \u0432\u0437\u044f\u0442\u043a\u0443 \u043e\u0442 \u044f\u043f\u043e\u043d\u0446\u0435\u0432 \u0437\u0430 \u0443\u043c\u0435\u043d\u044c\u0448\u0435\u043d\u0438\u0435 \u0441\u0443\u043c\u043c\u044b \u0441\u043a\u0438\u0434\u043e\u043a.<\/p>\n

\u0412 \u0446\u0435\u043b\u043e\u043c, \u043e\u0434\u043d\u0430\u043a\u043e, \u0441\u043e\u0433\u043b\u0430\u0441\u043d\u043e \u0418\u043d\u0432\u0435\u0441\u0442\u0438\u0446\u0438\u043e\u043d\u043d\u043e\u043c\u0443 \u043e\u0442\u0447\u0435\u0442\u0443, \u043e\u043f\u0443\u0431\u043b\u0438\u043a\u043e\u0432\u0430\u043d\u043d\u043e\u043c\u0443 \u0432 2025 \u0433\u043e\u0434\u0443 \u041a\u043e\u043d\u0444\u0435\u0440\u0435\u043d\u0446\u0438\u0435\u0439 \u041e\u041e\u041d \u043f\u043e \u0442\u043e\u0440\u0433\u043e\u0432\u043b\u0435 \u0438 \u0440\u0430\u0437\u0432\u0438\u0442\u0438\u044e, \u043e\u0431\u044a\u0435\u043c \u043d\u0430\u043a\u043e\u043f\u043b\u0435\u043d\u043d\u044b\u0445 \u043f\u0440\u044f\u043c\u044b\u0445 \u0438\u043d\u043e\u0441\u0442\u0440\u0430\u043d\u043d\u044b\u0445 \u0438\u043d\u0432\u0435\u0441\u0442\u0438\u0446\u0438\u0439 \u0432 \u041c\u043e\u043b\u0434\u043e\u0432\u0443 \u0432 2024 \u0433\u043e\u0434\u0443 \u0441\u043e\u0441\u0442\u0430\u0432\u0438\u043b \u043e\u043a\u043e\u043b\u043e 5,39 \u043c\u0438\u043b\u043b\u0438\u0430\u0440\u0434\u0430 \u0434\u043e\u043b\u043b\u0430\u0440\u043e\u0432, \u0447\u0442\u043e \u043d\u0430 1,2% \u043c\u0435\u043d\u044c\u0448\u0435, \u0447\u0435\u043c \u0433\u043e\u0434\u043e\u043c \u0440\u0430\u043d\u0435\u0435.<\/p>\n

\u042d\u0442\u043e \u0441\u0430\u043c\u044b\u0439 \u043d\u0438\u0437\u043a\u0438\u0439 \u043f\u043e\u043a\u0430\u0437\u0430\u0442\u0435\u043b\u044c \u0441\u0440\u0435\u0434\u0438 \u0434\u0435\u0432\u044f\u0442\u0438 \u0434\u0440\u0443\u0433\u0438\u0445 \u0441\u0442\u0440\u0430\u043d, \u043d\u0430\u0445\u043e\u0434\u044f\u0449\u0438\u0445\u0441\u044f \u0432 \u043f\u0440\u043e\u0446\u0435\u0441\u0441\u0435 \u0432\u0441\u0442\u0443\u043f\u043b\u0435\u043d\u0438\u044f \u0432 \u0415\u0432\u0440\u043e\u043f\u0435\u0439\u0441\u043a\u0438\u0439 \u0441\u043e\u044e\u0437. \u0422\u0430\u043a, \u043f\u043e \u0441\u0440\u0430\u0432\u043d\u0435\u043d\u0438\u044e \u0441 \u0410\u0440\u043c\u0435\u043d\u0438\u0435\u0439, \u043a\u043e\u0442\u043e\u0440\u0430\u044f \u0442\u043e\u043b\u044c\u043a\u043e \u043d\u0430\u0434\u0435\u0435\u0442\u0441\u044f \u043d\u0430\u0447\u0430\u0442\u044c \u043f\u0435\u0440\u0435\u0433\u043e\u0432\u043e\u0440\u044b \u043e \u0432\u0441\u0442\u0443\u043f\u043b\u0435\u043d\u0438\u0438 \u0432 \u0415\u0421, \u043e\u0431\u044a\u0435\u043c \u0438\u043d\u0432\u0435\u0441\u0442\u0438\u0446\u0438\u0439 \u0432 \u041c\u043e\u043b\u0434\u043e\u0432\u0443 \u043f\u0440\u0438\u043c\u0435\u0440\u043d\u043e \u043d\u0430 \u0442\u0440\u0435\u0442\u044c \u043d\u0438\u0436\u0435, \u0430 \u043f\u043e \u0441\u0440\u0430\u0432\u043d\u0435\u043d\u0438\u044e \u0441 \u0413\u0440\u0443\u0437\u0438\u0435\u0439, \u0433\u0434\u0435 \u043f\u0440\u043e\u0446\u0435\u0441\u0441 \u0435\u0432\u0440\u043e\u043f\u0435\u0439\u0441\u043a\u043e\u0439 \u0438\u043d\u0442\u0435\u0433\u0440\u0430\u0446\u0438\u0438 \u043f\u0440\u0430\u043a\u0442\u0438\u0447\u0435\u0441\u043a\u0438 \u0437\u0430\u043c\u043e\u0440\u043e\u0436\u0435\u043d, \u043e\u043d \u0441\u043e\u0441\u0442\u0430\u0432\u043b\u044f\u0435\u0442… \u0412 4,6 \u0440\u0430\u0437\u0430 \u043d\u0438\u0436\u0435.<\/p>\n

\u0411\u043e\u043b\u0435\u0435 \u0442\u043e\u0433\u043e, \u0434\u0430\u0436\u0435 \u043e\u0442\u043d\u043e\u0441\u0438\u0442\u0435\u043b\u044c\u043d\u043e \u043d\u0435\u0434\u0430\u0432\u043d\u043e \u0410\u043b\u0431\u0430\u043d\u0438\u044f, \u0437\u0430\u043d\u0438\u043c\u0430\u0432\u0448\u0430\u044f \u043f\u043e\u0441\u043b\u0435\u0434\u043d\u0435\u0435 \u043c\u0435\u0441\u0442\u043e \u0432 \u0440\u0435\u0439\u0442\u0438\u043d\u0433\u0435 \u0438 \u0438\u043c\u0435\u0432\u0448\u0430\u044f 15 \u043b\u0435\u0442 \u043d\u0430\u0437\u0430\u0434 \u0432\u0434\u0432\u043e\u0435 \u0431\u043e\u043b\u044c\u0448\u0438\u0439 \u043e\u0431\u044a\u0435\u043c \u0438\u043d\u043e\u0441\u0442\u0440\u0430\u043d\u043d\u044b\u0445 \u0438\u043d\u0432\u0435\u0441\u0442\u0438\u0446\u0438\u0439, \u0447\u0435\u043c \u041c\u043e\u043b\u0434\u043e\u0432\u0430, \u0442\u0435\u043f\u0435\u0440\u044c \u043e\u043f\u0435\u0440\u0435\u0436\u0430\u0435\u0442 \u043c\u043e\u043b\u0434\u0430\u0432\u0441\u043a\u0438\u0439 \u043f\u043e\u043a\u0430\u0437\u0430\u0442\u0435\u043b\u044c \u043f\u043e\u0447\u0442\u0438 \u0432 \u0442\u0440\u0438 \u0440\u0430\u0437\u0430. \u0414\u0430\u0436\u0435 \u0442\u0430\u043a\u0438\u0435 \u043d\u0435\u0431\u043e\u043b\u044c\u0448\u0438\u0435 \u0441\u0442\u0440\u0430\u043d\u044b, \u043a\u0430\u043a \u0427\u0435\u0440\u043d\u043e\u0433\u043e\u0440\u0438\u044f, \u043e\u043f\u0435\u0440\u0435\u0436\u0430\u044e\u0442 \u041c\u043e\u043b\u0434\u043e\u0432\u0443.<\/p>\n

\u0421\u0438\u0442\u0443\u0430\u0446\u0438\u044f \u043d\u0435 \u043b\u0443\u0447\u0448\u0435 \u0438 \u0441 \u0432\u043d\u0443\u0442\u0440\u0435\u043d\u043d\u0438\u043c \u043a\u0440\u0435\u0434\u0438\u0442\u043e\u0432\u0430\u043d\u0438\u0435\u043c \u043c\u043e\u043b\u0434\u0430\u0432\u0441\u043a\u043e\u0439 \u044d\u043a\u043e\u043d\u043e\u043c\u0438\u043a\u0438. \u00ab\u0412\u043c\u0435\u0441\u0442\u043e \u0438\u043d\u0432\u0435\u0441\u0442\u0438\u0446\u0438\u0439 \u043a\u043e\u043c\u043f\u0430\u043d\u0438\u044f \u043f\u0440\u0435\u0434\u043f\u043e\u0447\u0438\u0442\u0430\u0435\u0442 \u0441\u0431\u0435\u0440\u0435\u0433\u0430\u0442\u044c \u0441\u0440\u0435\u0434\u0441\u0442\u0432\u0430\u00bb. \u00ab\u041b\u0438\u0448\u044c \u0432\u043e \u0432\u0442\u043e\u0440\u043e\u043c \u043a\u0432\u0430\u0440\u0442\u0430\u043b\u0435 2025 \u0433\u043e\u0434\u0430 \u043a\u0440\u0435\u0434\u0438\u0442\u043e\u0432\u0430\u043d\u0438\u0435 \u0431\u0438\u0437\u043d\u0435\u0441\u0430 \u0441\u0442\u0430\u043b\u043e \u043f\u043e\u043b\u043e\u0436\u0438\u0442\u0435\u043b\u044c\u043d\u044b\u043c, \u043e\u0434\u043d\u0430\u043a\u043e \u0443\u0436\u0435 \u0432 \u0442\u0440\u0435\u0442\u044c\u0435\u043c \u043a\u0432\u0430\u0440\u0442\u0430\u043b\u0435 \u0442\u0435\u043d\u0434\u0435\u043d\u0446\u0438\u044f \u0441\u043d\u043e\u0432\u0430 \u0438\u0437\u043c\u0435\u043d\u0438\u043b\u0430\u0441\u044c \u2013 \u043f\u043e\u043a\u0430\u0437\u0430\u0442\u0435\u043b\u044c \u0441\u0442\u0430\u043b \u043e\u0442\u0440\u0438\u0446\u0430\u0442\u0435\u043b\u044c\u043d\u044b\u043c, \u0447\u0442\u043e \u043e\u0442\u0440\u0430\u0436\u0430\u0435\u0442 \u0441\u043e\u0445\u0440\u0430\u043d\u044f\u044e\u0449\u0435\u0435\u0441\u044f \u043d\u0435\u0434\u043e\u0432\u0435\u0440\u0438\u0435 \u043a \u044d\u043a\u043e\u043d\u043e\u043c\u0438\u0447\u0435\u0441\u043a\u043e\u0439 \u0441\u0438\u0442\u0443\u0430\u0446\u0438\u0438\u00bb, \u2013 \u043e\u0442\u043c\u0435\u0442\u0438\u043b \u0432 \u043a\u043e\u043d\u0446\u0435 2025 \u0433\u043e\u0434\u0430 \u044d\u043a\u0441\u043f\u0435\u0440\u0442 \u043f\u043e \u044d\u043a\u043e\u043d\u043e\u043c\u0438\u0447\u0435\u0441\u043a\u043e\u0439 \u043f\u043e\u043b\u0438\u0442\u0438\u043a\u0435 \u0418\u043d\u0441\u0442\u0438\u0442\u0443\u0442\u0430 \u0440\u0430\u0437\u0432\u0438\u0442\u0438\u044f \u0438 \u0441\u043e\u0446\u0438\u0430\u043b\u044c\u043d\u044b\u0445 \u0438\u043d\u0438\u0446\u0438\u0430\u0442\u0438\u0432 \u00ab\u0412\u0438\u0438\u0442\u043e\u0440\u0443\u043b\u00bb \u0412\u044f\u0447\u0435\u0441\u043b\u0430\u0432 \u0418\u043e\u043d\u0438\u0446\u044d.<\/p>\n

\u0423\u043f\u043e\u043c\u044f\u043d\u0443\u0442\u0430\u044f \u0432\u044b\u0448\u0435 \u0431\u044b\u0432\u0448\u0430\u044f \u0433\u043b\u0430\u0432\u0430 \u041c\u0438\u043d\u0438\u0441\u0442\u0435\u0440\u0441\u0442\u0432\u0430 \u044d\u043a\u043e\u043d\u043e\u043c\u0438\u043a\u0438 \u0414\u043e\u0439\u043d\u0430 \u041d\u0438\u0441\u0442\u043e\u0440 \u043f\u0440\u0438\u0434\u0435\u0440\u0436\u0438\u0432\u0430\u043b\u0430\u0441\u044c \u0438\u043d\u043e\u0433\u043e \u043c\u043d\u0435\u043d\u0438\u044f: \u00ab\u041c\u044b \u043d\u0430\u0431\u043b\u044e\u0434\u0430\u0435\u043c \u043f\u043e\u0437\u0438\u0442\u0438\u0432\u043d\u044b\u0435 \u0441\u0438\u0433\u043d\u0430\u043b\u044b \u0432 \u044d\u043a\u043e\u043d\u043e\u043c\u0438\u043a\u0435, \u043e\u0441\u043e\u0431\u0435\u043d\u043d\u043e \u0432 \u0438\u043d\u0432\u0435\u0441\u0442\u0438\u0446\u0438\u043e\u043d\u043d\u043e\u0439 \u0441\u0444\u0435\u0440\u0435. \u041f\u044f\u0442\u044c \u043a\u0432\u0430\u0440\u0442\u0430\u043b\u043e\u0432 \u043f\u043e\u0434\u0440\u044f\u0434 \u043f\u0440\u0435\u0434\u043f\u0440\u0438\u043d\u0438\u043c\u0430\u0442\u0435\u043b\u0438 \u0443\u0432\u0435\u043b\u0438\u0447\u0438\u0432\u0430\u044e\u0442 \u0438\u043d\u0432\u0435\u0441\u0442\u0438\u0446\u0438\u0438 \u0432 \u0440\u0430\u0437\u0432\u0438\u0442\u0438\u0435 \u0441\u043e\u0431\u0441\u0442\u0432\u0435\u043d\u043d\u043e\u0433\u043e \u0431\u0438\u0437\u043d\u0435\u0441\u0430. \u041c\u044b \u0444\u0438\u043a\u0441\u0438\u0440\u0443\u0435\u043c \u0440\u043e\u0441\u0442 \u0434\u043e\u043b\u0433\u043e\u0441\u0440\u043e\u0447\u043d\u043e\u0433\u043e \u0438\u043d\u0432\u0435\u0441\u0442\u0438\u0446\u0438\u043e\u043d\u043d\u043e\u0433\u043e \u043a\u0440\u0435\u0434\u0438\u0442\u043e\u0432\u0430\u043d\u0438\u044f, \u0447\u0442\u043e \u0441\u0432\u0438\u0434\u0435\u0442\u0435\u043b\u044c\u0441\u0442\u0432\u0443\u0435\u0442 \u043e \u043f\u0440\u0438\u043e\u0431\u0440\u0435\u0442\u0435\u043d\u0438\u0438 \u043e\u0431\u043e\u0440\u0443\u0434\u043e\u0432\u0430\u043d\u0438\u044f \u0438 \u0432\u043d\u0435\u0434\u0440\u0435\u043d\u0438\u0438 \u043d\u043e\u0432\u044b\u0445 \u0442\u0435\u0445\u043d\u043e\u043b\u043e\u0433\u0438\u0439. \u041c\u044b \u0443\u0432\u0435\u0440\u0435\u043d\u044b, \u0447\u0442\u043e \u044d\u0442\u0430 \u0442\u0435\u043d\u0434\u0435\u043d\u0446\u0438\u044f \u0441\u043e\u0445\u0440\u0430\u043d\u0438\u0442\u0441\u044f \u0434\u043e \u043a\u043e\u043d\u0446\u0430 2025 \u0433\u043e\u0434\u0430\u00bb.<\/p>\n

\u0412 \u0441\u0432\u043e\u044e \u043e\u0447\u0435\u0440\u0435\u0434\u044c, \u0433\u0435\u043d\u0435\u0440\u0430\u043b\u044c\u043d\u044b\u0439 \u043c\u044d\u0440 \u043c\u043e\u043b\u0434\u0430\u0432\u0441\u043a\u043e\u0439 \u0441\u0442\u043e\u043b\u0438\u0446\u044b \u0418\u043e\u043d \u0427\u0435\u0431\u0430\u043d \u043e\u0447\u0435\u043d\u044c \u043c\u0440\u0430\u0447\u043d\u043e \u043e\u043f\u0438\u0441\u0430\u043b \u043d\u0435\u043e\u043f\u0440\u0435\u0434\u0435\u043b\u0435\u043d\u043d\u043e\u0441\u0442\u044c \u0432 \u043e\u0442\u043d\u043e\u0448\u0435\u043d\u0438\u0438 \u0438\u043d\u0432\u0435\u0441\u0442\u0438\u0446\u0438\u0439 \u0432 \u043d\u0430\u0446\u0438\u043e\u043d\u0430\u043b\u044c\u043d\u0443\u044e \u044d\u043a\u043e\u043d\u043e\u043c\u0438\u043a\u0443. \u00ab\u0412 \u043e\u0431\u0449\u0435\u0441\u0442\u0432\u0435\u043d\u043d\u043e\u0435 \u043f\u0440\u043e\u0441\u0442\u0440\u0430\u043d\u0441\u0442\u0432\u043e \u043f\u043e\u043f\u0430\u0434\u0430\u0435\u0442 \u043b\u0438\u0448\u044c \u0444\u0440\u0430\u0433\u043c\u0435\u043d\u0442\u0430\u0440\u043d\u0430\u044f \u0438\u043d\u0444\u043e\u0440\u043c\u0430\u0446\u0438\u044f, \u043a\u043e\u0442\u043e\u0440\u0430\u044f \u0441\u043a\u043e\u0440\u0435\u0435 \u0441\u0431\u0438\u0432\u0430\u0435\u0442 \u0441 \u0442\u043e\u043b\u043a\u0443, \u0447\u0435\u043c \u043f\u0440\u0438\u043d\u043e\u0441\u0438\u0442 \u043f\u043e\u043b\u044c\u0437\u0443\u00bb. \u00ab\u042f\u0441\u043d\u043e\u0441\u0442\u044c. \u0410 \u044d\u0442\u043e \u0443\u0441\u0438\u043b\u0438\u0432\u0430\u0435\u0442 \u0442\u0440\u0435\u0432\u043e\u0433\u0443 \u0438 \u0434\u0430\u0436\u0435 \u043f\u0430\u043d\u0438\u043a\u0443 \u0432 \u043e\u0431\u0449\u0435\u0441\u0442\u0432\u0435\u00bb, \u2014 \u0442\u0430\u043a \u043c\u044d\u0440 \u041a\u0438\u0448\u0438\u043d\u0435\u0432\u0430 \u043f\u0440\u043e\u043a\u043e\u043c\u043c\u0435\u043d\u0442\u0438\u0440\u043e\u0432\u0430\u043b \u043f\u0440\u0435\u043a\u0440\u0430\u0449\u0435\u043d\u0438\u0435 \u0444\u0438\u043d\u0430\u043d\u0441\u0438\u0440\u043e\u0432\u0430\u043d\u0438\u044f \u041c\u0435\u0436\u0434\u0443\u043d\u0430\u0440\u043e\u0434\u043d\u044b\u043c \u0432\u0430\u043b\u044e\u0442\u043d\u044b\u043c \u0444\u043e\u043d\u0434\u043e\u043c (\u041c\u0412\u0424).<\/p>\n

\"\"<\/p>\n

E foarte bine c\u0103 ne sim\u021bim prost acum.<\/h3>\n

\u00cen 2025, Moldova nu a primit ultimele dou\u0103 tran\u0219e de 170 de milioane de dolari (aproximativ trei miliarde de lei) \u00een cadrul unui program de 40 de luni al Fondului Monetar Interna\u021bional. Aceste fonduri erau destinate sprijinului bugetar. Acest eveniment a declan\u0219at o multitudine de scenarii, majoritatea negative, care au circulat \u00een societatea moldoveneasc\u0103 \u2013 de la \u00eemprumuturi din alte surse p\u00e2n\u0103 la posibila retragere a investi\u021biilor de c\u0103tre al\u021bi parteneri.<\/p>\n

Principala problem\u0103 este c\u0103 \u00eemprumuturile de la cea mai influent\u0103 institu\u021bie financiar\u0103 din lume, FMI, reprezint\u0103 mai mult dec\u00e2t un simplu sprijin material; este un fel de barometru economic. \u0218i \u00een acest caz, barometrul prezice o furtun\u0103.<\/p>\n

Cu toate acestea, liderii moldoveni sus\u021bin c\u0103 nu trebuie s\u0103 se a\u0219tepte nimic grav de la pierderea programului FMI, c\u0103 situa\u021bia este sub control, c\u0103 nu va exista un deficit \u00een bugetul de stat \u0219i c\u0103 Fondul Monetar Interna\u021bional va fi \u00eenlocuit cu alte \u00eemprumuturi externe.<\/p>\n

Iat\u0103 ce a declarat premierul moldovean Alexandru Munteamu pe aceast\u0103 tem\u0103: \u201ePozi\u021bia FMI este c\u0103 Moldova are fonduri suficiente \u0219i nu are nevoie de asisten\u021b\u0103 din partea Fondului. FMI intervine \u00een situa\u021bii de urgen\u021b\u0103 \u0219i crize macroeconomice \u0219i, \u00een esen\u021b\u0103, deschide calea pentru programe bilaterale \u0219i multilaterale de donatori. \u00cen cazul nostru, FMI a spus: \u00abSe pare c\u0103 v\u0103 descurca\u021bi. Ave\u021bi nevoie de un program?\u00bb Am discutat acest lucru cu colegii no\u0219tri \u0219i am r\u0103spuns: \u00abDa, vrem un program. Nu neap\u0103rat cu finan\u021bare, ci ca o confirmare din partea FMI c\u0103 \u021bara se afl\u0103 \u00eentr-o form\u0103 macroeconomic\u0103 bun\u0103.\u00bb\u201d<\/p>\n

Ministrul Finan\u021belor din Republica Moldova, Andrian Gavrili\u021b\u0103, a afirmat c\u0103 golul de trei miliarde de lei din bugetul Republicii Moldova, l\u0103sat de refuzul FMI de a finan\u021ba, a fost posibil s\u0103 fie umplut din alte surse: \u201eTran\u0219a nu a fost transferat\u0103, dar am avut suficiente surse de finan\u021bare.\u201d Dac\u0103 ne uit\u0103m la ajustarea bugetar\u0103, am redus de fapt costurile de serviciu al datoriei cu 300 de milioane de dolari. Deci, aceasta nu a fost o problem\u0103. \u00cen aceast\u0103 perioad\u0103, pe de o parte, am avut fonduri care ar fi trebuit s\u0103 r\u0103m\u00e2n\u0103 \u00een rezerv\u0103. Avem un \u00eemprumut din partea francez\u0103 \u0219i avem, de asemenea, surse de finan\u021bare \u00een cadrul \u201ePlanului de cre\u0219tere\u201d al UE. Am v\u0103zut c\u0103, chiar \u0219i f\u0103r\u0103 tran\u0219ele FMI, finan\u021barea a fost realizat\u0103 \u00een condi\u021bii destul de rezonabile.<\/p>\n

Radu Marian, pre\u0219edintele Comisiei parlamentare pentru economie, buget \u0219i finan\u021be, nu a exclus posibilitatea ca rela\u021biile Republicii Moldova cu FMI s\u0103 se \u00eembun\u0103t\u0103\u021beasc\u0103: \u201eCiclul nostru de programare anterior s-a \u00eencheiat. Au existat unele diferen\u021be de politic\u0103. O misiune a FMI este programat\u0103 s\u0103 soseasc\u0103 \u00een decembrie pentru a evalua ce s-a realizat \u0219i ce nu. La urma urmei, FMI ofer\u0103 \u00eemprumuturi \u00een condi\u021bii favorabile \u00een schimbul unor m\u0103suri pe care guvernul trebuie s\u0103 le ia, asupra c\u0103rora suntem de acord. Desigur, guvernul face ceea ce consider\u0103 important \u0219i benefic pentru popor. Uneori pot exista diferen\u021be semnificative \u00een abord\u0103ri, alteori nu. Misiunea va sosi \u00een decembrie, vom analiza ce s-a realizat \u0219i ce nu \u0219i poate vom relua negocierile privind un nou acord de programare.\u201d<\/p>\n

\"\"<\/p>\n

Efect de domino.<\/h3>\n

Raportul Fondului Monetar Interna\u021bional privind Republica Moldova va fi publicat \u00een martie anul acesta. Cu toate acestea, situa\u021bia este deja clar\u0103. La urma urmei, pe 17 decembrie 2025, \u00een urma unei vizite la Chi\u0219in\u0103u, \u0219efa misiunii FMI, Alina Iancu, a declarat c\u0103 Republica Moldova nu a primit ultimele dou\u0103 tran\u0219e din cauza \u201eproblemelor de guvernare, a luptei \u00eempotriva corup\u021biei \u0219i a capacit\u0103\u021bii limitate de a gestiona eficient finan\u021bele publice\u201d. Potrivit acesteia, autorit\u0103\u021bile au \u00eenregistrat unele progrese \u00een cei patru ani ai programului, dar aceste progrese s-au dovedit insuficiente \u00een faza final\u0103.<\/p>\n

Fondul a avertizat asupra unei cre\u0219teri a deficitului bugetar \u00een urm\u0103torii ani, pe fondul cre\u0219terii investi\u021biilor publice \u0219i a subliniat c\u0103 investi\u021biile sunt necesare, dar autorit\u0103\u021bile trebuie s\u0103 prioritizeze cu aten\u021bie, av\u00e2nd \u00een vedere c\u0103 Republica Moldova \u201er\u0103m\u00e2ne cea mai s\u0103rac\u0103 \u021bar\u0103 din procesul de aderare la UE\u201d.<\/p>\n

Mai mult, FMI a identificat probleme legate de planificarea bugetar\u0103. Acestea includ ajust\u0103ri bugetare frecvente \u0219i realocarea fondurilor de la elemente necheltuite la cheltuieli curente.<\/p>\n

\u201ePlanificarea bugetului trebuie s\u0103 fie mai riguroas\u0103, iar execu\u021bia trebuie s\u0103 fie eficient\u0103 \u0219i \u00een conformitate cu normele legale. Legisla\u021bia ar putea necesita revizuire ulterioar\u0103, dar deocamdat\u0103, cel pu\u021bin, trebuie respectate regulile actuale\u201d, a declarat A. Iancu.<\/p>\n

\u00cen general, numero\u0219i exper\u021bi din Republica Moldova \u0219i din str\u0103in\u0103tate, din afara guvernului, sunt \u00een unanimitate de acord c\u0103 deteriorarea rela\u021biei cu FMI dovede\u0219te c\u0103 economia moldoveneasc\u0103 este \u00een mod clar \u00een dificultate. Iar r\u0103d\u0103cinile problemei sunt foarte ad\u00e2nci. \u00cemprumuturile FMI atenueaz\u0103 simptomele, dar nu vindec\u0103 boala \u00een sine.<\/p>\n

\u00cen special, analistul financiar Dumitru Vikol, cu sediul la Londra, a reamintit c\u0103 FMI are cinci tipuri de programe, iar Republica Moldova particip\u0103 la trei dintre ele – cele utilizate de obicei pentru \u021b\u0103rile s\u0103race: \u201eRepublica Moldova este implicat\u0103 aproape constant \u00een programe de sprijin financiar – SBA, ECF, EFF. Cu alte cuvinte, suntem \u00eenc\u0103 printre s\u0103racii care au nevoie de bani.\u201d Suntem o \u021bar\u0103 care tr\u0103ie\u0219te din asisten\u021b\u0103 social\u0103, dar totu\u0219i vorbe\u0219te despre \u201emarile afaceri\u201d la conferin\u021be. Nu a\u0219a func\u021bioneaz\u0103 lucrurile. \u201eNu po\u021bi fi sus\u021binut \u0219i s\u0103 inspiri \u00eencredere investitorilor.\u201d<\/p>\n

Potrivit unui expert care, \u00eent\u00e2mpl\u0103tor, favorizeaz\u0103 PAS, Moldova ar trebui s\u0103 treac\u0103 la formatul PCI – un program f\u0103r\u0103 finan\u021bare direct\u0103, dar cu angajamente de reform\u0103: \u201e\u00cen acest fel, vom demonstra c\u0103 implement\u0103m reforme pentru noi \u00een\u0219ine, nu de dragul tran\u0219elor, \u0219i c\u0103 ne stabilim propriile priorit\u0103\u021bi.\u201d<\/p>\n

Veaceslav Ioni\u021b\u0103, fost pre\u0219edinte al comisiei parlamentare pentru economie \u0219i finan\u021be, consider\u0103 c\u0103 criza din rela\u021biile cu FMI a fost cauzat\u0103 \u00een principal de deficien\u021be \u00een gestionarea bugetului \u0219i c\u0103 fondurile oferite Moldovei de c\u0103tre sponsori sunt risipite, mai degrab\u0103 dec\u00e2t utilizate pentru reforme. Iar FMI nu are nicio \u00eendoial\u0103 c\u0103 acest lucru va continua.<\/p>\n

\u201eBlocarea a dou\u0103 tran\u0219e consecutive este un caz unic. Acest lucru nu s-a mai \u00eent\u00e2mplat niciodat\u0103 \u00een rela\u021biile Republicii Moldova cu FMI. Acesta este un semnal alarmant: \u00eencrederea s-a epuizat. \u0218i f\u0103r\u0103 \u00eencredere, nu exist\u0103 bani, nu exist\u0103 parteneriat, nu exist\u0103 dezvoltare. Problema principal\u0103 nu sunt fondurile pierdute, ci sabotajul reformelor de c\u0103tre cei afla\u021bi la putere: FMI nu a pedepsit Republica Moldova; a tras un semnal de alarm\u0103: \u00abOpri\u021bi catastrofa, altfel nimeni nu v\u0103 va mai finan\u021ba\u00bb\u201d, a remarcat economistul.<\/p>\n

Exper\u021bii atribuie, de asemenea, blocarea ultimelor dou\u0103 tran\u0219e FMI ne\u00eendeplinirii de c\u0103tre guvern a unora dintre obliga\u021biile sale. Mai exact, aceasta se refer\u0103 la neadoptarea unor legi care abrog\u0103 facilit\u0103\u021bile fiscale \u0219i extind baza impozabil\u0103.<\/p>\n

\u00cen prezent, Republica Moldova se bucur\u0103 de peste 100 de tipuri de facilit\u0103\u021bi fiscale, ceea ce duce la o pierdere anual\u0103 de peste 25 de miliarde de lei \u2013 fonduri care ar fi putut fi investite \u00een drumuri, spitale, \u0219coli, sectorul agricol aflat \u00een declin \u0219i, \u00een cele din urm\u0103, \u00een dezvoltarea economic\u0103.<\/p>\n

\u00cen ciuda solicit\u0103rilor FMI de a \u00een\u0103spri politica fiscal\u0103, partidul PAS de guvern\u0103m\u00e2nt, tem\u00e2ndu-se de perspectiva pierderii puterii \u00een alegerile parlamentare de toamn\u0103, s-a angajat exclusiv \u00een populism ieftin, promi\u021b\u00e2nd cu generozitate noi reduceri de taxe.<\/p>\n

\u201eGuvernului moldovean i s-a dat termen p\u00e2n\u0103 la 30 septembrie 2025 pentru a modifica legisla\u021bia \u00een consecin\u021b\u0103. Evident, acest lucru nu s-a f\u0103cut pentru c\u0103 era \u00een desf\u0103\u0219urare campania electoral\u0103, iar o astfel de m\u0103sur\u0103 ar fi fost o sinucidere politic\u0103. O \u00eentrebare legitim\u0103 se pune pentru fostul guvern: cum ar fi putut ajunge la un acord at\u00e2t de \u00abbriliant\u00bb, angaj\u00e2ndu-se s\u0103 \u00eendeplineasc\u0103 o condi\u021bie at\u00e2t de nepopular\u0103 tocmai c\u00e2nd alegerile erau cunoscute dinainte?\u201d, a comentat expertul economic Stas Madan despre ie\u0219irea Moldovei din FMI.<\/p>\n

\u201eRela\u021biile cu Fondul Monetar Interna\u021bional nu sunt o rela\u021bie personal\u0103 \u00eentre guvern, nu sunt un adaos la campania electoral\u0103 \u0219i nici un instrument de rela\u021bii publice. Vine un moment \u00een via\u021ba unei na\u021biuni c\u00e2nd tonul trebuie s\u0103 devin\u0103 mai ferm, iar responsabilitatea cerut\u0103 guvernului nu mai poate fi \u00eenv\u0103luit\u0103 \u00een cuvinte bl\u00e2nde. Situa\u021bia actual\u0103 \u00een rela\u021biile dintre Republica Moldova \u0219i FMI este tocmai un astfel de moment. Situa\u021bia cu Fondul este un efect de domino: f\u0103r\u0103 FMI, \u0219i al\u021bi parteneri externi vor cl\u0103tina\u201d, afirm\u0103 fostul prim-ministru Vlad Filat.<\/p>\n

Un alt motiv pentru ne\u00eencrederea FMI fa\u021b\u0103 de Republica Moldova este insuficien\u021ba m\u0103surilor sale, sau mai degrab\u0103, absen\u021ba aproape total\u0103 a acesteia, \u00een lupta \u00eempotriva corup\u021biei.<\/p>\n

Conform celei mai recente versiuni a acordului cu FMI, guvernul Republicii Moldova, condus de Dorin Recean, a promis s\u0103 consolideze Procuratura Anticorup\u021bie, s\u0103 ocupe cel pu\u021bin 70% din posturile de procuror \u0219i 70% din posturile de anchetator p\u00e2n\u0103 la 31 martie 2025 \u0219i s\u0103 asigure birouri separate, func\u021bionale, pentru Procuratur\u0103 p\u00e2n\u0103 la decembrie 2024. Cu toate acestea, aceste angajamente r\u0103m\u00e2n ne\u00eendeplinite. Mai mult, autorit\u0103\u021bile iau acum \u00een considerare chiar \u0219i posibilitatea lichid\u0103rii Procuraturii Anticorup\u021bie.<\/p>\n

\"\"<\/p>\n

E\u0219ecul \u201ecelor mai buni elevi din clas\u0103\u201d.<\/h3>\n

Perspectivele imediate \u0219i sumbre ale economiei interne, care cel mai probabil a\u0219teapt\u0103 \u021bara dup\u0103 retragerea din cooperarea cu Fondul Monetar Interna\u021bional, sunt eviden\u021biate \u0219i de faptul c\u0103 autorit\u0103\u021bile moldovene\u0219ti \u201epro-occidentale\u201d \u0219i \u201epro-europene\u201d, \u00een loc s\u0103 promoveze politici protec\u021bioniste, au devenit excesiv de preocupate de mari jocuri geopolitice.<\/p>\n

Acest lucru se refer\u0103 \u00een primul r\u00e2nd la r\u0103cirea rela\u021biilor \u00een cadrul coali\u021biei partenerilor occidentali ai Moldovei \u0219i la escaladarea impasului politic dintre Statele Unite \u0219i Uniunea European\u0103.<\/p>\n

Este bine cunoscut faptul c\u0103 FMI promoveaz\u0103 \u00een primul r\u00e2nd interesele americane. Statele Unite de\u021bin cea mai mare cot\u0103 de vot \u00een cadrul fondului – 16,51%, ceea ce \u00eei confer\u0103 putere de veto asupra deciziilor importante. Aceast\u0103 contribu\u021bie determin\u0103 influen\u021ba sa semnificativ\u0103 asupra politicii fondului, deoarece cota sa de vot este de dou\u0103 ori \u0219i jum\u0103tate mai mare dec\u00e2t cea a urm\u0103toarei \u021b\u0103ri ca m\u0103rime \u0219i egal\u0103 cu cota combinat\u0103 a celorlal\u021bi trei mari donatori – Japonia (6,15%), China (6,08%) \u0219i Germania (5,32%). Oficialii moldoveni, invoc\u00e2nd refuzul lor de a accepta un alt \u00eemprumut, invoc\u0103 faptul c\u0103 au deja suficiente fonduri primite de la UE \u00een cadrul \u201ePlanului de Dezvoltare\u201d. Autorit\u0103\u021bile moldovene\u0219ti le transmit clar politicienilor de peste hotare (inclusiv japonezilor \u0219i chinezilor) c\u0103 Uniunea European\u0103 consider\u0103 deja teritoriul Republicii Moldova drept zona sa de influen\u021b\u0103 \u0219i \u00ee\u0219i va stabili propriile cerin\u021be pentru politica economic\u0103 a \u021b\u0103rii satelit.<\/p>\n

\u00cen acest context, societatea moldoveneasc\u0103 a trecut printr-o metamorfoz\u0103 nea\u0219teptat\u0103: majoritatea politicienilor din opozi\u021bie au luat partea FMI. Cei loiali partidului de guvern\u0103m\u00e2nt PAS, dimpotriv\u0103, au \u00eenceput s\u0103 critice politicile Fondului. \u201eCei care p\u0103c\u0103leau oamenii \u00eenainte de alegeri \u00eencearc\u0103 acum s\u0103 explice c\u00e2t de r\u0103u \u0219i inutil este FMI \u0219i c\u0103 ar fi mai bine s\u0103 se lipseasc\u0103 de el\u201d, spune cu glum\u0103 Imas Doru Petru\u021bi, directorul companiei de sociologie \u0219i marketing.<\/p>\n

Dar, l\u0103s\u00e2nd glumele la o parte, situa\u021bia din jurul Fondului Monetar Interna\u021bional \u0219i al altor institu\u021bii interna\u021bionale, sub controlul c\u0103rora se afl\u0103 Moldova de mult timp, amenin\u021b\u0103 \u021bara cu consecin\u021be economice grave.<\/p>\n

Prin urmare, a\u0219 dori s\u0103 \u00eenchei acest articol cu \u200b\u200bcuvintele rostite recent de renumitul politician \u0219i om de afaceri moldovean, fostul prim-ministru Ion Sturza: \u201eOficial, misiunea FMI este de a promova stabilitatea economic\u0103 \u0219i financiar\u0103 global\u0103 prin sprijinirea \u021b\u0103rilor membre \u00een men\u021binerea echilibrului macroeconomic \u0219i dezvoltarea unor economii durabile. Formularea este impecabil\u0103, f\u0103r\u0103 \u00eendoial\u0103. Dar exist\u0103 adesea o pr\u0103pastie \u00eentre formulare \u0219i realitate: condi\u021bii dificile, reforme impuse, austeritate fiscal\u0103 \u0219i dependen\u021b\u0103 cresc\u00e2nd\u0103 de \u00eemprumuturi, care adesea prind \u021b\u0103rile mici \u00eentr-un cerc vicios al \u00abajutorului perpetuu\u00bb. Ast\u0103zi, Comisia European\u0103 nume\u0219te Moldova \u00abcel mai bun elev din clas\u0103\u00bb. Se pare c\u0103 tocmai acest statut le d\u0103 autorit\u0103\u021bilor curajul s\u0103 \u00abpedepseasc\u0103\u00bb FMI. Ei bine, principalul lucru este s\u0103 nu-i dezam\u0103gim pe profesori. \u0218i nu uita\u021bi, uneori se schimb\u0103.\u201d<\/p>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Vin sau pleac\u0103 investitorii? \u0421\u043e\u0432\u0435\u0440\u0448\u0435\u043d\u043d\u043e \u043e\u0447\u0435\u0432\u0438\u0434\u043d\u043e, \u0447\u0442\u043e \u043e\u0434\u043d\u0438\u043c \u0438\u0437 \u0433\u043b\u0430\u0432\u043d\u044b\u0445 \u0444\u0430\u043a\u0442\u043e\u0440\u043e\u0432 \u0441\u043e\u0441\u0442\u043e\u044f\u043d\u0438\u044f \u044d\u043a\u043e\u043d\u043e\u043c\u0438\u043a\u0438 \u043b\u044e\u0431\u043e\u0439 \u0441\u0442\u0440\u0430\u043d\u044b, \u043e\u0441\u043e\u0431\u0435\u043d\u043d\u043e \u0440\u0430\u0437\u0432\u0438\u0432\u0430\u044e\u0449\u0438\u0445\u0441\u044f, \u044f\u0432\u043b\u044f\u044e\u0442\u0441\u044f \u043e\u0442\u043d\u043e\u0448\u0435\u043d\u0438\u044f \u0441 \u0438\u043d\u043e\u0441\u0442\u0440\u0430\u043d\u043d\u044b\u043c\u0438 \u0438\u043d\u0432\u0435\u0441\u0442\u043e\u0440\u0430\u043c\u0438. \u0415\u0441\u043b\u0438 \u043e\u043d\u0438 \u0438\u043d\u0432\u0435\u0441\u0442\u0438\u0440\u0443\u044e\u0442 \u0432 \u043f\u0440\u043e\u0438\u0437\u0432\u043e\u0434\u0441\u0442\u0432\u043e \u043a\u0430\u043a\u043e\u0439-\u043b\u0438\u0431\u043e \u0441\u0442\u0440\u0430\u043d\u044b, \u0437\u043d\u0430\u0447\u0438\u0442, \u043e\u043d\u0438 \u0432\u0435\u0440\u044f\u0442 \u0432 \u043d\u0430\u0434\u0435\u0436\u043d\u043e\u0441\u0442\u044c \u0438 \u043f\u0435\u0440\u0441\u043f\u0435\u043a\u0442\u0438\u0432\u044b \u043c\u0435\u0441\u0442\u043d\u043e\u0439 \u044d\u043a\u043e\u043d\u043e\u043c\u0438\u043a\u0438. \u0415\u0441\u043b\u0438 \u0436\u0435 \u0438\u043d\u0432\u0435\u0441\u0442\u0438\u0446\u0438\u0439 \u043d\u0435\u0442, \u0438\u043b\u0438, \u0431\u043e\u043b\u0435\u0435 \u0442\u043e\u0433\u043e, \u0438\u0434\u0435\u0442 \u043f\u0440\u043e\u0446\u0435\u0441\u0441 \u043e\u0442\u0442\u043e\u043a\u0430 \u0438\u043d\u043e\u0441\u0442\u0440\u0430\u043d\u043d\u043e\u0433\u043e \u043a\u0430\u043f\u0438\u0442\u0430\u043b\u0430, \u0437\u043d\u0430\u0447\u0438\u0442, \u0432 \u0441\u0442\u0440\u0430\u043d\u0435 \u0447\u0442\u043e-\u0442\u043e \u043d\u0435 […]<\/p>\n","protected":false},"author":1,"featured_media":17895,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[94,98],"tags":[],"class_list":{"0":"post-17891","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-analytics","8":"category-analytics-economie-si-finante"},"yoast_head":"\nMisterele economiei moldovene\u0219ti - MLD-Index<\/title>\n<meta name=\"description\" content=\"Marea majoritate a oamenilor, oriunde \u00een lume, se str\u0103duiesc s\u0103 \u00ee\u0219i \u00eembun\u0103t\u0103\u021beasc\u0103 condi\u021biile de via\u021b\u0103. 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