Igor Dodon, president of the Party of Socialists of the Republic of Moldova (PSRM), commented on the statement made by the Governor of the National Bank of Moldova, who noted that around 95% of banking assets are managed by European investors, TRIBUNA reports.

According to Dodon, the Party of Socialists is drawing attention to what it considers an extremely serious issue for the economic future of the Republic of Moldova: approximately 95% of the country’s banking system assets are controlled by foreign investors, mainly from Western states. Such concentration, he argued, creates major risks for Moldova’s financial security and economic independence.

Recently, Anca Dragu, the Governor of the National Bank of Moldova and a Romanian citizen, stated that the fact that about 95% of banking assets are managed by European investors demonstrates the quality of the NBM’s regulatory framework. In PSRM’s view, this situation is not a reason for praise but rather evidence that Moldova has significantly reduced its ability to influence its own financial and banking policies.

“After the 2014–2015 banking fraud, instead of strengthening national control over the banking sector, the country ended up handing it over to foreign financial groups. Today, profits and dividends generated by Moldova’s economy are transferred abroad, while the national economy continues to suffer from a lack of investment and affordable lending.

At the same time, the Republic of Moldova is facing a record budget deficit and a continuously growing public debt. Under these conditions, the state needs its own financial instruments to support economic development and strategic projects,” Dodon stated.

PSRM argues that urgent measures are needed:

1. Diversification of the banking sector. Moldova should create conditions to attract financial institutions from various regions of the world, including China, Turkey, member states of the Eurasian Economic Union, and other countries interested in investing in the Moldovan economy. Real competition would reduce dependence on a single financial center.
2. Creation of a State Bank. Moldova needs a fully state-owned bank to finance strategic projects in infrastructure, energy, agriculture, and industry, to manage public financial resources efficiently, and to reinvest profits in the interest of Moldovan citizens.

Dodon also announced that PSRM has already submitted to Parliament a draft law on the establishment of a State Bank and will insist on its priority examination.

“We are convinced that only by strengthening economic and financial sovereignty can we ensure the sustainable development of the Republic of Moldova and improve the living standards of its citizens,” he emphasized.