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Macroeconomics
• Annual inflation accelerated to 8.60% in September from 6.96% in August, exceeding the upper limit of the NBM target range (6.50%) for the second consecutive month. Prices rose by 6.62% in January–September, compared with 4.89% a year earlier; monthly inflation was 1.66%.
Energy and Resources
• Energy imports rose by 14.50% in January–July to €1.39 billion, accounting for 23.72% of total imports. Natural gas accounted for €577.90 million, petroleum products for €565.40 million and electricity for €229.10 million.
• Installed renewable generation capacity exceeded 1 GW; the Ministry of Energy plans to develop energy storage and modernize 120 substations. The Energy Strategy envisages reducing the economy's energy intensity from 0.299 to 0.061 tons of oil equivalent per €1,000 by 2050.
• In September, the gas tariff rose by 40.78% from August, while the electricity tariff for households was 23.65% higher than in September 2025. The Ministry of Energy proposed 27 amendments to heating billing rules, including the recalculation of erroneous bills; comments are accepted until October 16.
Foreign Economy and Trade
• Starting November 1, Moldovan Railways will increase freight tariffs for exports, imports, transit and domestic shipments by 15%. The decision also affects grain transportation.
• According to IDIS Viitorul estimates cited in the issue, services exports reached approximately $1.73 billion in the first half of the year, increasing by around 22%; IT and transportation were the largest segments.
Government Regulation
• The Competition Council fined 27 companies 95 million lei for collusion in public road procurement in 2019–2020; the contracts involved were worth approximately 1.75 billion lei. The decision may be appealed within 30 days of receipt.
• At the beginning of 2026, only 77 of 152 state-owned enterprises were operating; in 2025, the five largest companies generated 84.20% of revenue, while 20 of the 72 reporting enterprises posted losses. Expert-Grup proposed a three-stage state asset reform through 2029.
• ANSA drafted mandatory advance notification requirements for certain imported shipments posing safety risks; consultations continue until October 26. The State Tax Service is revising the criteria for selecting large taxpayers, with proposals accepted until October 15.
International Relations
• European Council President António Costa announced plans to open two more EU accession negotiation clusters for Moldova during October 12–18, with the remaining clusters to follow by year-end.
• The EU allocated €5 million for the MD PAR public administration reform project, implemented by Finland's HAUS and Estonia's e-Governance Academy; priority areas include management, human resources and digitalization.
Investment and Projects
• Under the "Europe is Close" program, contracts were signed for 353 road projects and 175 roads have entered service. Following the budget revision during October 12–18, the authorities plan to begin settling arrears for completed work under the "European Village" program.
Banking and Finance
• NBM foreign exchange reserves reached a record €5.46 billion as of October 2, up €353.91 million (+6.93%) since the beginning of the year.
• The NBM proposed limiting the share of the insurance market audited simultaneously by a single audit firm to 50% of total assets in each insurance category; comments are accepted until October 29.
Agriculture
• Farmers must register in the Farmers' Registry to receive state support; AIPA urged agricultural producers to complete registration in advance.
Business and Companies
• Electronic communications market revenue increased by 3.60% in the second quarter to 1.72 billion lei. Orange Moldova, Moldcell and Moldtelecom accounted for 59.90%, 28.70% and 11.40% of mobile services revenue, respectively.
• Sandriliona exports approximately half of its products sold to 15 countries; locally produced goods make up more than 50% of METRO Moldova's food assortment, while 30 Moldovan producers supply the chain's private labels.
Social Economy
• The Ministry of Labor began drafting the resolution on the national minimum wage for 2027; proposals are accepted until October 22. Trade unions and employers agreed to increase the minimum wage in the real sector from 6,300 to 7,600 lei starting January 1, 2027.
• At the beginning of 2026, Moldova had 611,900 residents aged 60 and older, representing 25.90% of the resident population; the authorities are discussing the expansion of long-term care services.
The Day in Figures
8.60% — annual inflation in September | €5.46 billion — NBM foreign exchange reserves |
€1.39 billion — energy imports over seven months | 84.20% — five largest state-owned companies' share of revenue |
15% — increase in rail freight tariffs from November 1 | 1.72 billion lei — electronic communications market revenue in Q2 |
95 million lei — fines for collusion in road tenders | €5 million — EU support for public administration reform |
AGENDA
• During October 12–18, the EU intends to open two more negotiation clusters for Moldova's accession.
• During October 12–18, following the budget revision, repayment of arrears for completed work under the "European Village" program is expected to begin.
• On October 15, the National Bureau of Statistics will publish January–August foreign trade statistics and August enterprise sales data based on VAT returns.
• On October 15–18, Moldagrotech and Farmer 2026 exhibitions will take place at Moldexpo.
• Until October 15, the State Tax Service is accepting proposals on the criteria for selecting large taxpayers; until October 16, the Ministry of Energy is accepting comments on heating billing rules.
• Until October 22, the Ministry of Labor is accepting proposals on the minimum wage for 2027.
• Until October 26, ANSA is accepting comments on advance notifications by importers.