Buzu Defends High Salaries at Moldova's Central Bank

Buzu on high salaries at the NBM: “The employees are honest and professional”

Employees of the National Bank of Moldova demonstrate a high level of integrity and professionalism, and their salary levels must also be analyzed in light of competition in the banking market. This opinion was expressed by the Secretary General of the Government, Alexei Buzu.

Alexei Buzu

“We understand that the National Bank’s mandate is a significant one. The professionals at the National Bank demonstrate a high level of integrity and professionalism. As an employer, the National Bank competes with other banks in the Republic of Moldova, where compensation levels are higher, and this must be taken into account,” Buzu stated on Realitatea TV.

Regarding independent regulatory authorities, including the National Bank, the official said that the prime minister has proposed a broader discussion, with Parliament’s participation, to identify solutions that would ensure greater transparency without compromising the independence of these institutions.

At the same time, the official noted that the government will review the management contracts for the 100 highest-paid positions in state-owned enterprises and public institutions under the Executive’s authority. According to him, the goal is to verify whether the salary levels correspond to the performance and added value provided by those individuals.

The government also intends to create a public portal where the compensation of individuals in government institutions and state-owned enterprises will be published. According to Buzu, greater transparency will make it possible to identify and deter potential misconduct.

“We will make adjustments to the legislation to ensure that we have anti-circumvention measures—that is, measures to prevent the circumvention of certain caps already established by law. We will not allow those in the highest-paying positions to receive financial assistance. We have observed that financial assistance should be directed toward employees who are in a more difficult situation and have lower levels of compensation,” Buzu added.

In addition, the Financial Inspectorate would be able to initiate, on its own initiative, audits in institutions where there are indications of irregularities regarding payroll. According to Buzu, the government’s analysis shows that the identified excesses are concentrated in a few institutions and do not represent a widespread phenomenon in the public sector.