Significant exchange rate fluctuations and increased reliance on short-term borrowing exacerbate fiscal risks, as they require frequent refinancing. The Audit Office conducted an assessment of public debt management, state guarantees, and refinancing in 2025, identifying deviations from the external public debt ceilings and from the target ranges set out in the Medium-Term Debt Management Program.
Residents spend half of their day on personal activities and, on average, only 3 to 5 hours on work. The data comes from the National Bureau of Statistics (NBS) based on the results of a representative thematic survey on time use in Moldova in 2025. This is the second large-scale study; the first pilot survey was conducted in 2005, followed by another in 2012. Since then, the agency has significantly updated and expanded this methodology, and the comparability of the results is limited, the NBS warns.
The agreement between the U.S. and Iran extends the fragile ceasefire announced in April by 60 days and reopens the Strait of Hormuz, but investors no longer trust the apparent calm and are focusing on regulatory actions. This week, they are awaiting meetings of central banks, including the Bank of England and the U.S. Federal Reserve, to assess whether the end of the conflict came too late to mitigate short-term inflation risks.
Gross domestic product (GDP) grew by 0.4% year-on-year in real terms in the first quarter of 2026, marking a significant slowdown following 3.6% growth in the previous quarter. Economic growth was driven by increases in final consumption and foreign trade. The positive trend was supported by growth in household final consumption, as well as an increase in gross value added across a number of sectors.
The swift collection of electronic evidence related to cybercrimes, including from abroad, will become possible following the ratification of the Second Additional Protocol to the Council of Europe Convention on Cybercrime, signed in Strasbourg on May 12, 2022.
China is developing a digital payment system to compete with the dollar. The mBridge cross-border payment platform has received support from the central banks of Hong Kong, Thailand, the UAE, and Saudi Arabia. The project aims to reduce dependence on the dollar and strengthen Beijing’s ties with trading partners under the Belt and Road Initiative.
Europe has decided to restrict foreign investment. The Council of the European Union has officially approved an updated regulation on the screening of foreign direct investment (FDI) with the aim of significantly tightening controls over transactions in strategically important sectors of the economy. The new rules are designed to protect the EU’s economic security from growing geopolitical risks and prevent the undesirable transfer of critical infrastructure to foreign control.
Moldova will adopt a new Classification of Economic Activities (CAEM) that closely aligns with the European Union’s statistical classification of economic activities. Its full implementation is scheduled for January 1, 2027.
On June 12, 2026, the European Union began implementing the provisions of the new Pact on Migration and Asylum, which significantly tightens the rules governing entry, residence, and deportation. It will now be more difficult to obtain asylum in EU countries, and those whose applications are denied will have to leave more quickly. These measures are aimed at combating illegal migration and reducing the burden on European countries’ social systems.
At its meeting on June 11, 2026, the European Central Bank (ECB) raised its three key interest rates by 25 basis points. This decision marked the first rate hike since September 2023 and was a response to inflationary pressures caused by the geopolitical crisis and the war in the Middle East. The ECB downgraded its forecast, expecting average inflation in 2026 to reach 3.0%. The baseline forecast for eurozone GDP growth in 2026 has been lowered to 0.8%.
The World Bank has lowered its global economic growth forecast for 2026 to 2.5%. This figure is the lowest since 2020, reflecting a general slowdown in economic activity. The revision is largely due to the risks and consequences of conflicts in the Middle East. The projected growth rates are significantly lower than pre-pandemic levels. In adverse scenarios, experts warn of the risk of growth slowing to as low as 1.3%.
Large state-owned companies will be the first “voluntary” participants in the capital market to set an example for the private sector on how to conduct an IPO on the local stock market. Moldovan authorities plan to list a number of state-owned enterprises on the stock market. As part of these reforms, companies are beginning to prepare for listing on the new International Stock Exchange of Moldova, which is scheduled to launch in the summer of 2026.
The euro’s role in foreign policy needs to be strengthened. The European Central Bank (ECB) called for this a year ago, but little has changed since then. The results of the first year of the euro’s global promotion have been disappointing. The European currency has yet to break free from its transatlantic dependence.
The security of the Neptun Deep project, which is set to become the largest natural gas production facility in Romania’s Black Sea sector, was discussed at a meeting of NATO representatives on June 10. Romanian President Nicușor Dan wrote on X that “allies expressed solidarity with Romania regarding the recent drone incidents.” He confirmed that “an agreement was reached to accelerate NATO projects addressing drone threats” to protect the gas project.
A package of amendments to the Competition Law No. 183/2012, designed to bring the law into line with EU regulations (including the ECN+ Directive), introduces fundamental changes to the rules of the game in the Moldovan market. First and foremost, these changes will involve stricter fines and increased liability for businesses. The maximum fines for violations of fair competition rules have been increased from 5% to 10% of the company’s total turnover for the previous year.
The government is selling government securities at a record pace, capitalizing on increased demand for them as a high-yield investment vehicle that outperforms bank deposits. Monthly sales are rising thanks to short-term securities. In the first five months of 2026, GSBs worth 26 billion lei were sold, which is one-third higher than sales volumes for the same period last year.
Financial professionals are reevaluating their stance on artificial intelligence, shifting from blind enthusiasm to pragmatic criticism. An international regulatory body is calling for tighter controls on the use of artificial intelligence in the financial sector after Anthropic released Mythos, which experts say poses a serious cybersecurity threat to the banking industry.
In May 2026, average consumer prices in Moldova rose by 6.8% year-over-year and by 4.9% year-to-date. The annual inflation rate in April remained unchanged. In April, annual inflation reached a four-month high following a January low of 4.8%. The data is provided by the National Bureau of Statistics (NBS).
A significant number of illegal Russian-speaking call centers involved in telephone fraud are physically located in Ukraine. The perpetrators use social engineering techniques, modern number spoofing technologies, and psychological pressure.
The EU intends to propose a 21st round of sanctions against Russia, targeting the country’s banking and cryptocurrency networks, in order to increase the likelihood of a banking crisis and encourage Russia to engage in negotiations on a peace agreement.
