This is evidenced by the data released by the Ministry of Finance on the execution of the national public budget and its components as of April 30, 2025.
The state budget revenues amounted to 24,128.3 million lei in the first four months of this year. Among them, total taxes and fees reached the level of 23,953.7 million lei, while revenues from projects financed from external sources amounted to 174.6 million lei.
At the same time, the state budget revenues administered by the State Tax Service increased by 10.5 percent, while those of the Customs Service by 4.9 percent.
State budget expenditures and non-financial assets amounted to 28,041.1 million lei in this period. Compared to the same period of 2024, they are higher by 12.1%. As a result, the state budget execution at the end of April 2025 ended with a deficit of 3,912.8 million lei. The sources of its financing were internal borrowings worth 7,491.2 million lei and external borrowings worth 1,986.6 million lei.
Commenting on these figures, the former chairman of the parliamentary commission for economy, budget and finance, Vladimir Golovatiuc, said that the level of the budget deficit decreased compared to the previous year. But to a large extent, this was due to the increased dependence of the budget on “other people’s” money – grants, as well as external and internal borrowings. This is the main problem of the budget today, the expert believes.
This is what is reflected in the 31% share of internal and external borrowings in the national public budget. At the same time, their weight in both budget items has increased this year. If last year 18% of budget expenditures were financed by grants, external and internal borrowings, this year – more than 23%. However, there are no unconditional guarantees that Moldova will receive the necessary amount of borrowed funds in the future.
“If the economy is functional, and the budget filling will be at the level. Otherwise, the authorities need to look for means to fulfill social obligations,” the expert said.
