Moldovan public institutions are forced to apply for bank loans for the first time due to the Covid-19 pandemic. They borrowed 140 million lei in May, according to National Bank data.
Veaceslav Ioniță, the expert in economic policies, said that there will be new loans and debts of public institutions to commercial banks in addition to the loans already contracted by the Government.
"Usually, public institutions were credited from the state budget if necessary. One of the reasons was that they did not even need loans," says Ionita.
According to the NBM, in April-May 2020, the bank loan portfolio decreased by 1.1 billion lei, exclusively due to the reduction of loans offered to economic agents.
In the case of individuals, the portfolio remained unchanged, at an all-time high of 14.5 billion lei. And for legal entities, the loan portfolio decreased from 27.6 billion lei to 26.5 billion lei