Political

Moldova Revises Budget to Combat Energy Crisis

The Parliament of Moldova has voted in the second reading on a legislative initiative to modify the state budget for the current year, aiming to bolster support for energy-vulnerable consumers.

According to the Parliament, with the support of the United Nations Development Program, agreements have been signed between the Republic of Moldova and its development partners to enhance support for energy-vulnerable consumers. Sweden and Italy will provide the country with non-reimbursable grants of approximately $8,852,100 and €4,320,000, respectively, for the implementation of measures to reduce energy vulnerability.

"In order to utilise these grants, it is proposed to amend the Law on the State Budget by including the respective financial resources in the revenues and expenditures of the state budget for 2024, without modifying the budget deficit," the press release states.

The draft also authorises the Ministry of Finance to redistribute the allocations approved in the Energy Vulnerability Reduction Fund between the measures of this Fund, based on well-founded proposals from the Ministry of Labor and Social Protection and the Ministry of Energy.

Translation by Iurie Tataru

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