Irina Covalenco, Author at logos-pres.md - Page 3 of 50
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Irina Covalenco

Irina Covalenco

Economic observer, freelance correspondent, 30 years in the profession. Specialises in economic policy and macroeconomics, writes on finance and financial markets. Has worked at Logos Press since the mid-1990s.

Articles

    On Sunday, Hungarian Prime Minister Péter Magyar announced the closure of the country’s only nuclear power plant after record-low water levels in the Danube forced it to shut down for the first time in 44 years.

    2 August 2026
    Magyar announced the closure of a nuclear power plant due to the heat

    Preliminary data show that the European economy “remains resilient” despite the recent sharp rise in energy prices. The eurozone economy grew by 0.4% in the second quarter of this year, exceeding widespread expectations of a slowdown due to the war with Iran. On a year-over-year basis, GDP growth was 1.0%.

    2 August 2026
    Growth in the eurozone was 0.4%; Moldova expects 0.7% GDP growth

    Elon Musk drew attention to the demographic situation in the European Union, noting the threat of extinction facing Western nations amid declining birth rates. The entrepreneur commented on UN statistics showing a decline in the fertility rate in the world’s largest economies since 1950 and a decrease in the population of Western nations.

    1 August 2026
    Musk Spoke About a Demographic Crisis in European Union Countries

    The excessive growth in lending during the first half of 2026 did not undermine the stability of the banking system. The National Bank of Moldova (NBM) reached this conclusion, noting that while risks do exist, they are moderate. In addition, banks have taken steps to create a safety cushion as required by the regulator, raising the countercyclical capital buffer rate to 2.5% as of the end of May.

    1 August 2026
    Banks Are Showing Resilience in the Face of Loan Demand

    Over the two years that the specialized online platform eVMS.md has been in operation, citizens have invested more than 1.3 billion lei in government securities. During this time, 20 subscription sessions were held, and interest payments to investors exceeded 60 million lei.

    31 July 2026
    Citizens have invested more than 1.3 billion lei in government securities

    The National Instant Payment System (MIA) from the National Bank of Moldova (NBM) is becoming increasingly popular due to its cost-effectiveness and ease of use. These advantages have been particularly appreciated by the public when paying for utilities and other services. The system has over 985,000 registered unique users—nearly one in every two adult residents of the country.

    31 July 2026
    Payments made through MIA exceeded 30 billion lei

    In the first quarter of 2026, heavy-duty trucks transported 7 million metric tons of cargo. The revised figure for the actual volume of freight transported is nearly double the previously published figure and is cited in official statistics as part of the first ASTRM pilot study conducted in accordance with European standards.

    31 July 2026
    The business has switched to heavy-haul trucks

    The 2030 census in Moldova will be conducted using AI and digital “signs of life.” The official statistics agency plans to use government registries, databases, and digital traces instead of the traditional door-to-door canvass. Citizens will be able to verify their own data online. The UN is providing these recommendations to national agencies in preparation for the next round of the global census.

    30 July 2026
    AI will be used for the 2030 Census

    This has arguably been one of the main consequences of adopting the euro as the base currency for calculating the exchange rate of the Moldovan leu. The National Bank of Moldova (NBM) cites evidence supporting the soundness of this decision, which for the past year and a half has had a positive impact on both foreign exchange costs and the management of the country’s foreign exchange reserves.

    30 July 2026
    The population saved about 22 million euros on foreign exchange transactions

    Mutual recognition of court rulings between Moldova and other states party to the treaty will enhance legal protection for businesses in cross-border disputes. Judgments rendered in one country may be enforced in another. The relevant law has been adopted by Parliament in its first reading.

    29 July 2026
    Moldova Accedes to the Hague Convention

    New rules for authorizing strategic infrastructure projects in the transportation and energy sectors establish a unified coordination mechanism, a maximum timeframe for preparatory procedures, and clear requirements for government procurement. The government has approved these details to accelerate integration into the European network.

    29 July 2026
    New Rules for Strategic Projects

    According to data from the National Bureau of Statistics (NBS), more than half of industrial output is sold on the domestic market. According to the agency’s latest report for 2025, the share of domestic consumption of local industrial products reached 68.6%.

    29 July 2026
    NBS: More Than Half of Industrial Output Is Sold on the Domestic Market

    The National Bank of Moldova (BNM) attributes the high salaries of its senior management and the increase in personnel expenses to the need to maintain competitive compensation given the complexity of the tasks facing the regulator.

    28 July 2026
    The National Bank explained the increase in expenses

    On Tuesday, July 28, two powerful earthquakes struck the southern part of the country, in Kumamoto Prefecture on the island of Kyushu. A 7.1-magnitude earthquake struck the area in the afternoon, followed by a tsunami warning for Ariake and Yatsushiro Bays. Almost immediately afterward, another quake with a magnitude of 6.1 struck.

    28 July 2026
    Two powerful earthquakes in Japan

    According to official reports from the Ministry of Finance for the first half of 2026, public debt figures were determined by trends in both domestic and external debt—which together rose to 142.8 billion lei. However, net financing of budget expenditures in June turned negative for the first time.

    28 July 2026
    Government loans do not cover budget expenditures

    Starting July 27, the Ministry of Finance is conducting another two-week cycle of updates to the subscription terms for government securities for individuals via the eVMS.md platform. Interest rates remain elevated, as they were in the previous round.

    27 July 2026
    A new subscription to government bonds has been opened

    The weakening of the U.S. dollar on the global market is linked to the first signs of de-escalation in the U.S.-Iran conflict. The week began with the U.S. currency losing value against other major world currencies.

    27 July 2026
    The dollar fell due to a diplomatic lull and provided support for the lei

    UNDP (PNUD Moldova) and the European Union are beginning to use “green bonds” to finance pilot energy communities in the towns of Roșcani, Călinești, Leova, and Geamăna (Roșcani, Călinești, Leova, and Geamăna). These specialized municipal bonds are viewed as promising financial instruments for local infrastructure and the energy transition.

    27 July 2026
    The first issuers of “green bonds” have been identified

    Investments in energy conservation in Moldova are economically viable but face significant barriers. The economy’s high energy intensity, rising utility rates, and government programs worth billions of lei underscore the urgency of modernization. However, the process is being held back by a lack of effectiveness assessments—for example, for large-scale government housing modernization programs costing 1.4 billion lei.

    26 July 2026
    Accounting Chamber: Effectiveness of Energy-Saving Investments in Doubt

    Today, users from around the world began reporting widespread issues accessing the ChatGPT chatbot, developed by the American company OpenAI, around 1:00 p.m. European time. This is according to reports from Downdetector and detector404.ru.

    25 July 2026
    ChatGPT experienced a widespread outage