NBM monitors processes so as to intervene at appropriate time, new deputy governor

The National Bank of Moldova (NBM) is attentively monitoring the evolution of the consumer price index, internal and external macroeconomic situation, and, at the appropriate time, will come with the necessary measures to create adequate monetary conditions to achieve its fundamental objective, the new Deputy Governor of the NBM Tatiana Ivanicichina stated in an exclusive interview for IPN.

She noted that despite the lack of a full-fledged government and external financing in the first seven months of the year, the state budget revenues from taxes and fees were higher than expected, thanks to continued economic recovery.

The second half of the year was marked by the relaunch of external financing, which was directed towards policies supporting the population and business environment, to cope with the volatile environment characterized by rising energy resource prices, as well as a new wave of Covid-19.

Also, a new International Monetary Fund Program has been approved, which comes with considerable financial support. It will continue to support the economy and population through Government policies. At the same time, a significant flow of financing through the EU’s Economic Recovery Plan will follow.

The institution anticipates that the annual inflation rate and core inflation will increase rapidly in the first half of the next year, after which it will ease off. In February, the NBM will publish the first Inflation Report for 2022 and the information will be updated according to available data.

Referring to the NBM’s recent call to the citizens to save money, Tatiana Ivanicichina said saving is encouraged in most countries as an important component of all measures for economic development, which will help to raise living standards and to protect citizens in case of financial difficulties, giving them greater financial freedom.

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