Moldova prioritises energy, infrastructure in 2024 budget
The Moldovan Ministry of Finance has unveiled the draft budget law for 2024, outlining a cautious fiscal plan that prioritises energy efficiency, local development, and infrastructure improvements while navigating a projected deficit.
The proposed budget anticipates a moderate increase in revenues, reaching over 66.6 billion lei, compared to the current year's budget. However, expenditures are expected to be kept in check, totaling over 82 billion lei, resulting in a deficit of nearly 15.6 billion lei.
Despite the projected deficit, the government has prioritised key sectors, allocating significant funds to the Road Fund (1.6 billion lei), the Agriculture Development Fund (1.6 billion lei), and the Energy Vulnerability Reduction Fund (1.5 billion lei). Additionally, the Regional and Local Development Fund will receive over 600 million lei to support infrastructure projects at the local level.
In a bid to enhance energy efficiency, the budget allocates nearly 308 million lei for residential sector initiatives. Moreover, 150 million lei will be dedicated to fostering the voluntary amalgamation of localities, promoting administrative efficiency.
Political parties will receive nearly 54 million lei in funding, while educational institutions will benefit from over 26 million lei earmarked for bathroom renovations or construction.
Translation by Iurie Tataru