News about Macroeconomics

Venice authorities plan to raise the entry fee for tourists to 50 euros on days of peak visitor numbers, a move that has already sparked a strong political and public backlash.

Switzerland has lost its status as the world’s most competitive economy, dropping to third place in the IMD World Competitiveness Ranking 2026. Singapore took the top spot, while Hong Kong came in second. These findings are based on the results of the annual study by the International Institute for Management Development (IMD).

Former Prime Minister and Member of Parliament Ion Chicu commented on the proposed reform of the public sector pay system, describing it as a simple adjustment to existing legislation rather than a revolutionary reform, as the authorities had previously promised.

At its meeting on June 18, 2026, the Executive Committee of the National Bank of Moldova unanimously raised the base rate from 6.5% to 7% per annum. The reserve requirement ratios for funds raised in Moldovan lei and in convertible foreign currency were maintained at their current levels—18% and 26% of the reserve base, respectively.

Poverty is a state of being. Depression is a mechanism—one that operates over a long period of time. It is no longer merely stagnation or a recession. Depression reflects the absence of any possibility for change. Poverty shows how much a region has today. Depression shows whether it is capable of shaping its own future. These are fundamentally different questions that require fundamentally different answers.

In April 2026, imports of goods exceeded exports by a factor of 3.4 for the first time in history. Consequently, the trade deficit for that month amounted to 642.5 million euros, which is 114.4 million euros, or 21.7%, higher than in April 2025. 

The government has published a draft law on reforming the unified pay system in the public sector. According to the draft, the reform is based on four main objectives: ensuring comparable salaries for similar positions, increasing competitiveness relative to other sectors, incentivizing professional activity, and maintaining budgetary discipline.

The authorities intend to gradually raise the retirement age for military personnel and civil servants with special status.

The UK economy has lost between 2% and 6% due to Brexit, compared to a hypothetical scenario in which the UK had remained in the EU.

In its latest June report on financial stability, the International Monetary Fund recommends that the National Bank of Moldova (NBM) strengthen protections for commercial banks to help them weather potential economic and financial shocks. IMF experts also suggest paying closer attention to foreign exchange risks, maintaining the flexibility of the national currency, and fostering confidence in the banking system and the regulator’s policies as a whole.

Moldova is bringing its labor laws into line with European standards by revising the rights of foreign nationals and their access to employment services.

Authorities claim that Moldova’s social protection system is “very generous” and covers citizens practically from the very beginning of their lives—even from the time they are in their mother’s womb. These statements were made at a meeting of the Public Finance Oversight Committee, which reviewed the implementation of the State Social Insurance Budget for 2025.

The world’s 500 richest people saw their combined wealth increase by $336 billion in a single day yesterday.

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 Reserve Bank of Australia (RBA) kept its key interest rate at 4.35% following a series of hikes, maintaining a cautious monetary policy stance amid ongoing inflationary risks.

The National Confederation of Trade Unions of Moldova (CNSM) sent letters to President Maia Sandu and Prime Minister Alexandru Munteanu, expressing deep concern over the lack of visible progress in reforming the public sector pay system and the failure to submit a draft law amending the regulatory framework in this area for public discussion.

The International Monetary Fund has released its April forecast for global inflation in 2026. Venezuela remains the clear leader at the bottom of the rankings, while deflation is expected in Costa Rica. At the same time, the gap between countries is enormous.

The Commission on Human Rights and Interethnic Relations is calling on the government to make combating population outflow its top priority, given the critical demographic situation in the country.

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.

Up to 20,000 protesters—anti-globalization activists, environmentalists, and supporters of a Palestinian state—took to the streets of Geneva on Sunday at the call of the “NoG7” coalition. In addition to them, about 600 anarchists from the “Black Bloc” took part in the march.