OREANDA-NEWS. July 23, 2013. Moldova’s public debt stood at 29 billion lei in late 2012, that accounts for 33 per cent of the Gross Domestic Product (GDP).

The debt hiked by 4.1 billion lei in 2012 against the year before. The data was included in the audit report on public debt, state guarantees and state re-crediting for 2012, considered by the Chamber of Auditors (CCRM).

The state debt worth 21.2 billion lei represents most of the public debt. The country’s obligation degree was 24.1 per cent in late 2012, which is by 0.7 percentage points more against 2011.

According to the report, the borrowed foreign sources are poorly turned to account. Thus, 20 of the 92 borrowed loans were turned to account at a lower level than 70 per cent.

The audit team specified that the enterprises from the public sector and the administrative and territorial units do not comply with the regulations on the fulfillment of the obligations regarding the debt reporting, which triggered the reporting of an untruthful public debt by the end of 2012.