Prime Minister discusses fiscal-budgetary priorities and economic reforms with IMF Resident Representative

Prime Minister Vasile Tofan held a meeting with International Monetary Fund (IMF) Resident Representative in the Republic of Moldova Svetlana Cerović. The discussions focused on the fiscal-budgetary situation, economic reforms, and the measures needed to strengthen public finances.

“I had a very direct and open discussion with Svetlana Cerović, the IMF Resident Representative in the Republic of Moldova. We spoke frankly about the budgetary situation and what needs to be done to improve it. We are determined to reduce the budget deficit, and we know this will require courageous decisions, including fiscal reform, reducing the state’s administrative costs, and simplifying and merging certain structures and agencies where they overlap or are no longer efficient,” the Prime Minister said.

The Prime Minister emphasized the importance of better management of state assets. He highlighted the need to develop more efficient state-owned companies and, where there is no clear reason for the state to remain the owner, to conduct transparent and competitive privatization processes that attract private investment and increase the productivity of the economy.

The officials also discussed the high cost of government financing and more efficient public debt management, including better use of available external financing sources and reducing the costs associated with debt servicing.

“Budgetary discipline is not an end in itself. We need it so that we can invest more where it matters—in people, infrastructure and economic development—without leaving the bill for future generations,” the Prime Minister said.

The parties agreed to continue the open dialogue between the Government and the IMF, including by leveraging the Fund’s expertise in developing and implementing reforms.

“We need partners to help us with expertise, but the decisions and responsibility for the reforms belong to us,” the Prime Minister said.