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Breaking news7 December 2022 20:06

Moldovan government approves state budget law, fiscal, customs policy for 2023

The cabinet today approved the fiscal and customs policy for the 2023 year, meant to support the economic agents in the conditions of multiple crises faced by Moldova, providing, at the same time, a sufficient level of resources for financing the budgetary programmes. The draft regards also the amendment of the law on the single system of salary payment in the public sector. Thus, the minimum salary for the public sector employees will be increased from 3,500 to 4,000 lei.

Also, the document contains a string of proactive measures, due to contribute to the creation of better conditions for economic development, among which: introduction of the quota of 0 per cent of income tax for the micro-, small and medium-sized enterprises, in the case of the non-distribution of the net income related to the fiscal periods 2023-2025; accelerated amortization of investments for the big enterprises; implementation of the concept as to the return of the sum of the value added tax (VAT) accumulated in account starting from 1 January 2023.

At the same time, the ceilings values for the food vouchers will be increased: from 35 to 55 lei and from 55 to 70 lei and the ceiling value of the fixed means for which the amortization is calculated on fiscal purposes – from 6,000 to 12,000 lei.

At the same time, the term of carrying out of the trade activity based on licence will be extended till 1 July 2023 and 100 per cent of the collections from the tax on roads’ use will be allocated to the local budgets in form of transfers with general purpose.

The measures included in the draft of the fiscal and customs policy stayed at the basis of the working out of the draft of the state budget for the next year.

Thus, in 2023, the state budget revenues will amount to 64.9 billion lei, which is by 9.3 per cent more against 2022 and the expenses will stand at 83.2 billion lei, higher by 12.5 per cent. The state budget in 2023 will result in a deficit of 18.3 billion lei, due to be covered with domestic and external sources.

The inflows of grants into the state budget for the next year are envisaged to be of 5.5 billion lei, which is 8.5 per cent of all revenues.

The principal measures of policies contained in the draft budget for 2023 are:

– providing of compensations for the payment of energy invoices;

– providing the monthly increase for the public sector employees worth 1,300 lei;

– providing of the compensatory payment to the people whose monthly salary will be lower than 4,000 lei;

– carrying out of the First Home programme;

– programmes START for YOUTH and PARE 1+1;

– ensuring the increase in the financial norms for the nourishment of children and pupils from education institutions;

– increasing the scholarships of the pupils, students and sportspeople;

– backing the work of the theatres, circus and concert organizations, etc.

As much as 51.1 per cent of the state budget’s expenses for 2023 represent the transfers to other budgets: state social insurances budget; Mandatory Health Insurances Account, the local public authorities, which amount to 42 billion lei.

In 2023, about 154 projects financed from external sources will be carried out. The spending for their implementation is estimated at 4.5 billion lei.

The draft law on the state budget for 2023 was compiled based on estimations by the Economics Ministry, in consultations with IMF experts, grounded on an economic growth of 2 per cent and the average annual inflation of 15.7 per cent.

The documents will enter into force after being approved in parliament.


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