• Calling days and hours of the governing body of the National Bank of Moldova for citizens.


  • Octavian Armașu, Governor of the National Bank of Moldova

    1st Monday of the month: 14.00-17.00;
    Appointment: +373 22 822 606;


  • Vladimir Munteanu, First Deputy Governor of the National Bank of Moldova

    2nd Monday of the month: 14.00-17.00;
    Appointment: +373 22 822 606;

  • Ion Sturzu, Deputy Governor of the National Bank of Moldova

    4th Monday of the month: 14.00-17.00;
    Appointment: +373 22 822 607.

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The National Bank of Moldova will continue to carefully monitor the evolution of the consumer price index, the internal and external macroeconomic situation, and at the right time will come with the necessary measures to create monetary conditions to achieve its fundamental objective.

According to preliminary data, in Quarter I, 2021, the current account of the balance of payments recorded a deficit of US$ 341,72 million, the capital account registered a negative balance amounting to US$ 16,20 million, and the financial account recorded a net capital inflow of US$ 346,54 million. The international investment position amounted to US$ -5 375,90 million as of 03/31/2021, while the gross external debt totaled US$ 8 253,89 million.

The document is a detailed analysis of macroeconomic developments in the internal and external environment and mainly concerns the inflationary process, economic activity and the conduct of monetary policy.

According to preliminary data, in 2020, the current account of the balance of payments recorded a deficit of US$ 795,73 million, the capital account registered a negative balance amounting to US$ 61,10 million, and the financial account recorded a net capital inflow of US$ 942,62 million. The international investment position amounted to US$ -5 493,85 million as of 12/31/2020, while the gross external debt totaled US$ 8 357,73 million.

Annual inflation rate will decrease insignificantly in the current quarter, but, starting with the next quarter, will increase until the end of the forecast horizon, returning to the proximity of the inflation target.

In quarter III 2020, the current account of the balance of payments recorded a deficit of US$ 333,03 million, the capital account registered a negative balance amounting to US$ 23,45 million, and the financial account recorded a net capital inflow of US$ 412,20 million. The international investment position amounted to US$ -5 625,21 million as of 30.09.2020, while the gross external debt totaled US$  7 950,28 million.

In 2019, the current account of the balance of payments recorded a deficit amounting to US$ 1 119,07 million, the capital account registered a deficit of US$ 49,88 million, and the financial account recorded a net capital inflow of US$ 1 141,02 million. The international investment position amounted to US$ -4 985,71 million at the end of 2019, while the gross external debt reached US$ 7 416,08 million.

In 2019, the current account of the balance of payments of the Republic of Moldova recorded a deficit amounting to US$ 1 119,07 million. The capital account registered a deficit of US$ 49,88 million and the financial account recorded a net capital inflow amounting to US$ 1 141,02 million. The international investment position recorded - US$ 4 985,71 million, while the gross external debt amounted to US$ 7 416,08 million.

During 2019, the financial system of the Republic of Moldova was characterized by a high level of resilience, with uneven evolutions of the risks to which it is exposed.

In quarter II 2020, the current account of the balance of payments recorded a deficit of US$ 19,23 million, the capital account registered a negative balance amounting to US$ 7,57 million, and the financial account recorded a net capital inflow of US$ 54,41 million. The international investment position amounted to US$ -5 124,91 million as of 30.06.2020, while the gross external debt totaled US$  7 785,38 million.

The annual inflation rate will be relatively stable throughout the forecast period. Being in the lower half of the variation range, it will reach the target only in the middle of 2022.

In quarter I 2020, the current account of the balance of payments recorded a deficit of US$ 188,80 million, the capital account registered a negative balance amounting to US$ 10,44 million, and the financial account recorded a net capital inflow of US$ 243,76 million. The international investment position amounted to US$ -5 075,09 million as of 31.03.2020, while the gross external debt totaled US$  7 580,77  million.

2019 was marked by many events, both externally and internally, all with an impact on economic activity, prices and national currency.

In the first quarter of 2020, the annual inflation rate started a downward trajectory, decreasing from 7.5% in December 2019 to 5.9% in March 2020, due to the decrease in contributions from core inflation and food prices.

According to preliminary data, in 2019, the current account of the balance of payments recorded a deficit of US$ 1 159,30 million, the capital account registered a negative balance amounting to US$ 52,08 million, and the financial account recorded a net capital inflow of US$ 1 205,94 million. The international investment position amounted to US$ -5 084,65 million at the end of 2019, while the gross external debt totaled US$ 7 545,57 million.

In the fourth quarter of 2019, the annual inflation rate continued its upward trajectory since the beginning of 2019, increasing from 6.3% in September 2019 to 7.5% in December 2019. 

In quarter III 2019, the current account of the balance of payments recorded a deficit of US$ 377,48 million, the capital account registered a negative balance amounting to US$ 17,28 million, and the financial account recorded a net capital inflow of US$ 349,21 million. The international investment position amounted to US$ - 4 875,38 million at the end of quarter III 2019, while the gross external debt totaled US$ 7 316,99 million.

The international investment position of the Republic of Moldova recorded a net debit of US$ 4 875,38 million as of 30.09.2019, which was 16,1% larger as compared to the end of 2018.

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