The Ministry of Economic Development summed up the results for 2023

There was held reporting board of the Ministry of Economic Development, where the results of the department’s work in 2023 were summed up. The PMR Supreme Council Chairman Alexander Korshunov and parliamentarians took part in the work of the board.

A report on the work of the ministry was presented by its head Sergei Obolonik. He noted in his report that last year the Ministry of Economic Development developed the Concept of budget and tax policy for 2024 and the medium term, as well as the Forecast of socio-economic development of the PMR for 2024. Both documents after discussion were adopted by the Supreme Council and became the basis for the formation of budget parameters for 2024.

Specialists from the Ministry of Economic Development conducted a comprehensive analysis of the situation in the economy in 2023. Against the backdrop of a significant decline in all key macroeconomic indicators in 2022, the negative trend in the development of the economic situation continued in 2023 with minor positive changes in certain areas, added Sergei Obolonik.

Agriculture showed good results. An increase in gross output was recorded in 2023 by 3.4% above the 2022 level.

As for the domestic market, the Ministry of Economic Development noted a slowdown in inflation processes last year. The average monthly accrued wages in the republic exceeded the base level of 2022 by almost 10%, and by 8.8% in extra-budgetary terms.

The Supreme Council together with the Ministry of Economic Development finalized and extended a number of measures in the economic sphere as part of state support last year. Thus, changes have been made to the relevant tax laws that will allow enterprises to apply a zero rate for the payment of income and unified social tax during downtime. Income tax benefits for organizations in the shoe and clothing industries were extended, and the income tax rate for organizations in the fruit and vegetable industry was reduced. The need for contributions to the Unified State Social Insurance Fund for pension insurance purposes in the amount of 1.08% has been canceled, and the basic rate of the unified social tax has been reduced to 24% for organizations working in the field of industrial production. Other measures include: extension of the preferential procedure for taxation of income of organizations engaged in housing construction, cashback for the domestic tourism sector and the opportunity for commercial developer organizations to take advantage of a tax benefit to reduce the tax base on the cost of a housing property transferred free of charge into state ownership upon completion of construction.

The Ministry continued to take part in the implementation of the preferential lending program for investment purposes in 2023.

The foreign policy and foreign economic situation around Pridnestrovie affected the indicators of foreign economic activity, the head of the Ministry of Economic Development added. Moldova has introduced additional restrictions for Pridnestrovian enterprises. Thus, Pridnestrovian enterprises have been required to pay for customs clearance of imports and exports, paid registration and licensing procedures have been introduced, the import of essential goods has been significantly limited, and the banking blockade is constantly worsening since August last year. In addition, the export of a number of industrial enterprises began to be blocked. The volume of export supplies excluding electricity exports decreased by 11.4%. The volume of imports decreased by 5.9%.

Sergei Obolonik devoted one of the sections of the report to tariff policy. First Deputy Prime Minister – Minister of Economic Development Sergei Obolonik noted its focus on supporting the population, which provides for maintaining the level of tariffs for basic services provided by natural monopoly enterprises. Thus, tariffs are kept at the same level in 2023.

The results of the work of the Board were summed up by the Chairman of the Government of the Pridnestrovian Moldavian Republic Alexander Rosenberg. He drew attention to what he considered important aspects.

The Chairman of the Government of the Pridnestrovian Moldavian Republic thanked the employees of the Ministry of Economic Development and personally the head of the department for the work carried out last year.