26 07/2017

Moldovan cabinet approves medium-term budgetary framework for 2018-2020

The cabinet of ministers, at a today’s meeting, approved a medium-term budgetary framework (CBTM) for 2018-2020. This is an instrument meant to provide stability, predictability and continuity to the budget-financed public policies on the concerned period, the government’s communication and protocol department has reported.  

The document represents an updating of CBTM 2017-2019, with the extension of forecasts and analysis for 2020 and was worked out with the observance of target indexes and commitments taken in the Memorandum with IMF and before other development partners. 

According to the draft, the main goal is to continue implementing the structural reforms, strengthen the public money and financial stability, optimize the use of budgetary resources and re-direct the present means to programmes of major importance. 

In particular, the priorities within the CBTM 2018-2020 are specified and result from the Mooldova-2020 National Development Strategy, the government’s action programme for 2016-2018 and Moldova-EU Association Agreement.  

At the same time, additional measures of policies/projects were identified, which are part of the government’s reforms’ agenda, among which the increase of salary norms and implementation of priority projects financed from external sources re-credited to state enterprises. Their fitting into CBTM will be analyzed through the light of observance of the objective of promoting prudent budgetary and fiscal policy and will be discussed within the second evaluation of the programme supported by IMF in next autumn.