OREANDA-NEWS.  March 24, 2014. The program aims to ensure efficient management of the state debt of Moldova. It identifies priority areas for the Finance Ministry to ensure the effectiveness of the state debt management, namely to provide sufficient mid and long-term funding for the state budget expenditures.

The program sets forth a structure of the state debt portfolio, defines optional strategies to meet financing needs and downgrade related risks. In line with the program, the state budget deficit is to be 86.5% covered out of external sources. 93.8% of external loans to the government will be lent by multi-donor institutions.

The net internal financing will be declining in 2014-2016 and the primary tools will be securities placed through auctions on the primary market.

According to the Finance Ministry, currently, the share of the state debt in GDP of Moldova is rather tolerable, making up 24.5%. By the end of 2016 it is expected to shrink to 23.5%.