02.12.2021, 16:10
The Expert Explained Why Moldova will Find It Difficult to Repay the Debt to Gazprom
Source: OREANDA-NEWS
OREANDA-NEWS. Moldova in December will face the need to pay off its debt to Gazprom in the amount of $ 30-40 million, a solution must be sought now, Vyacheslav Ionita, an economic analyst and expert at the Institute for Development and Social Initiatives (IDIS) Viitorul, told RIA Novosti.
Moldovan authorities in November approved amendments to the state budget to pay off a $ 74 million debt to Gazprom for gas received in October and November. However, Gazprom spokesman Sergei Kupriyanov expressed fears that the non-payment crisis could repeat itself in the future.
“Moldova will face a new crisis of non-payments on December 20, the Ministry of Infrastructure and Moldovagaz should already think about solving this problem. The fact is that Moldova buys gas from Gazprom in advance, and people pay one month late, then if they pay for the gas they have already consumed, this creates a cash gap, there will be a difference of about $ 30-40 million, "Ionita said.
The expert explained that the problem of late payment for gas arose annually, but Moldova coped with its settlement. However, this year it is necessary to take into account a significant increase in the tariff, which is compensated only for residential consumers.
“We must not forget that 70% of gas is received not by household consumers, but by companies, including from the energy sector, which, to put it mildly, are not doing well with the availability of funds. A debt of $ 30-40 million will arise if all consumers are pay bills on time, although this cannot be guaranteed, "added Ionita.
According to him, the government cannot again allocate funds from the budget to solve the problem, the solution must be found by the Moldovagaz company. The analyst does not rule out that the company is already working on resolving this issue, but it would be good to inform the population about this and assure that the story with a warning about a possible gas cutoff will not repeat itself.
"The gas tariff has already been increased, Moldovagaz will receive the money, but with a delay, so it has sufficient grounds to issue a loan. It may be enough for the state to publish a letter of guarantee to assure creditors that Moldovagaz will definitely pay off the debt." , - said Ionita.
Moldovan authorities in November approved amendments to the state budget to pay off a $ 74 million debt to Gazprom for gas received in October and November. However, Gazprom spokesman Sergei Kupriyanov expressed fears that the non-payment crisis could repeat itself in the future.
“Moldova will face a new crisis of non-payments on December 20, the Ministry of Infrastructure and Moldovagaz should already think about solving this problem. The fact is that Moldova buys gas from Gazprom in advance, and people pay one month late, then if they pay for the gas they have already consumed, this creates a cash gap, there will be a difference of about $ 30-40 million, "Ionita said.
The expert explained that the problem of late payment for gas arose annually, but Moldova coped with its settlement. However, this year it is necessary to take into account a significant increase in the tariff, which is compensated only for residential consumers.
“We must not forget that 70% of gas is received not by household consumers, but by companies, including from the energy sector, which, to put it mildly, are not doing well with the availability of funds. A debt of $ 30-40 million will arise if all consumers are pay bills on time, although this cannot be guaranteed, "added Ionita.
According to him, the government cannot again allocate funds from the budget to solve the problem, the solution must be found by the Moldovagaz company. The analyst does not rule out that the company is already working on resolving this issue, but it would be good to inform the population about this and assure that the story with a warning about a possible gas cutoff will not repeat itself.
"The gas tariff has already been increased, Moldovagaz will receive the money, but with a delay, so it has sufficient grounds to issue a loan. It may be enough for the state to publish a letter of guarantee to assure creditors that Moldovagaz will definitely pay off the debt." , - said Ionita.
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