For the Republic of Moldova labor migration is an important source of income through money

transfers directed to family members, left at home. Remittances are important resources that have
mixed effects on the well-being of the population, but also the economy of the country in
general. On the one hand, they contribute to poverty reduction and capital accumulation that can
be transformed into investment resources. On the other hand, however, they develop dependence
on households and promote consumption-based economic growth. This dependence of
remittance migrant households leads to a tendency to give up the working age population to be
present on the labor market, essentially diminishing the chances of economic development of the
country.

Slide 3

În luna martie 2019, prin intermediul băncilor licențiate au fost transferate din străinătate
în favoarea persoanelor fizice mijloace bănești în valoare netă de 101,96 mil. USD (în
scădere cu 7,1 la sută comparativ cu martie 2018).

Cei mai mulți bani trimiși acasă de moldoveni, oficial, prin intermediul transferurilor bancare,
vin din Federația Rusă – 20,7 la sută (21,05 mil. USD) și Israel – 19,2 la sută (19,60 mil. USD)
Urmează Italia – 12,6 la sută (12,87 mil. USD), Germania – 8,1 la sută (8,25 mil. USD), SUA –
7,7 la sută (7,90 mil. USD), Regatul Unit al Marii Britanii și al Irlandei de Nord – 6,8 la sută
(6,95 mil. USD), Franța – 4,8 la sută (4,89 mil. USD), Irlanda – 1,6 la sută (1,66 mil. USD),
Spania – 1,5 la sută (1,55 mil. USD), Cehia – 1,4 la sută (1,42 mil. USD), România – 1,2 la sută
(1,26 mil. USD), Portugalia – 1,2 la sută (1,19 mil. USD), Polonia – 1,1 la sută (1,13 mil. USD)

Slide4

Positive
Procesele de dezvoltare afectează şi sunt afectate de fluxurile migratorii. S-a observat că,

atunci când o ţară săracă începe să se dezvolte economic, emigrarea are tendinţă de creştere.

Parţial, aceasta se datorează contactelor mai intense cu lumea exterioară, competenţei crescânde

şi, parţial, oportunităţilor, în creştere, de realizare a aspiraţiilor migratorii. Migraţia este analizată
sub aspect pozitiv din punct de vedere al dezvoltării, evidenţiind influenţa remitenţelor, la nivel
microeconomic, asupra îmbunătăţirii nivelului de trai al beneficiarilor de remitenţe (remitenţele),
acoperind financiar necesităţile lor primare: pentru hrană, mărfuri de larg consum, îmbunătăţirea
condiţiilor de trai, studii etc. La nivel macroeconomic, remitenţele reprezintă o posibilă sursă a
dezvoltării economice atunci, când ating un nivel înalt şi ajung să îndeplinească rolul de
multiplicator (multiplicator al investiţiilor, al ocupării forţei de muncă ş.a.), constituie o sursă
importantă de valută străină, contribuie la creşterea venitului naţional, importului financiar şi la
îmbunătăţirea situaţiei balanţei de plăţi.

negative>Un moment important este faptul că, în ultimii ani, cercetările în domeniul
migraţiei, şi-au schimbat accentul de la cercetarea migraţiei ca fenomen negativ, asociat cu
exodul creierelor, la recunoaşterea efectelor pozitive ale ei asupra dezvoltării, în special a ţărilor
de origine [156]. Migraţia, de asemenea, contribuie la transnaţionalizarea sferelor economice,
sociale şi politice, precum şi la dezvoltarea reţelelor de transferuri de bani, companiilor de curieri
şi schimburi valutare

sl.5

Remittances are one of the most studied aspects of migration in Moldova and have an
important role in boosting domestic demand, but their high level and low investments are factors
that determine a high degree of vulnerability of the economy. The current reduction in
remittances in terms of investment failure will immediately affect consumption and GDP growth,
which already is observed. Moreover, remittances lead to currency depreciation, conditioning
more expensive exports from Moldova. The first signs of decreasing remittances have led to
currency depreciation. So remittances influence monetary policy as a result of growth of money
supply, increased demand and intensifying inflationary risks In the second quarter of 2019, the
total volume of Remittances in the Republic of Moldova in favor of individuals amounted to $
313.47 million, which was a decrease of about $ 29 million, compared to the previous year.
According to the National Bank of Moldova, the value calculated in dollars of transfers in the
second quarter of 2019 decreased by 8.5% compared to 2018. In the second quarter of 2018, the
euro / dollar exchange rate fluctuated around the price of $ 1.20 for one euro, while in the second
quarter of 2019 - around the price of $ 1.12 for one euro. This also occurred as a result of the
impact of the increase in euro transfers by 4% and the decrease in transfers in dollars and
Russian rubles by 16% and 51%. Thus, in the second quarter of 2019, the currency structure of
transfers recalculated in USD was as follows: $ 123.26 million, euro 174, 95 million, rubles
12.05 million, and other currencies 3.21 million. Remittances continue to be the main source of
inflows of foreign financial resources into the Republic of Moldova, exceeding 10 times the
value of external financial assistance and several times that of foreign investments. 1 The
geographic origin in favor of individuals, the European Union registered a share of 46.6%,
increasing by 6.4% compared to the second quarter in 2018. Transmissions from the CIS
accounted for 22.7%, is by 6.5% decreasing compared to 2018. Transfers from other states,
except the European Union and the CIS accounted for 30.9% in the second quarter of 2019 and
30.8% in the second quarter of 2018.

Sl.6
1
https://www.mold-street.com/?go=news&n=9251
 The oldest form of foreign trade was trade in goods and services. Traditionally, the basis of
this form of trade has been the exchange of material goods. At present, the object of foreign trade
has diversified, including the provision of services.

Foreign trade includes all relations and transactions carried out in the form of export and
import. It therefore targets the flows and services of a country with the rest of the world.

Foreign trade is materialized in the sale, purchase, provision of services between partners,
from different countries; sale or purchase of licenses, consignment or deposit, representation and
commission, international tourism, insurance related to international trade, etc.

Sl.7

The traditional forms of foreign trade are:

a) the import of goods, which represents the totality of commercial operations through
which goods are bought from other countries and brought into the country for productive and
unproductive consumption; In a broader sense, the import also includes the so-called invisible
import, ie the services procured by a certain country from other countries in the fields of
transport, insurance, credit, njrisin. licenses, etc .;
 b) the export of goods, which represent the totality of commercial operations through
which part of the goods produced or processed in one country are sold in other countries: in a
broader sense. and the export comprises the so-called invisible export.

The realization of international economic cooperation can take place in a wide range
of forms, such as:
a) construction of economic objectives on the territory of a country;
b) cooperation in the manufacture of equipment, machines, subassemblies and parts;
c) manufacture of products based on the use of licenses, patents or technical
documentation of the partner;
d) conducting surveys and explorations by one country in another country;
e) cooperation with foreign commercial companies;
f) cooperation in achieving tourist objectives;
g) founding joint ventures.
 Sl.8
The Balance of External Payments is the most important tool for recording the flows,
which occur in the relationships, due in a certain period (usually one year). Being a detailed
summary table on analytical accounts and sub-accounts prepared over a certain period, the
balance of payments allows the comparison, in quantitative and qualitative terms, of the real and
financial exchanges of a country with foreign countries. The simple entry in the balance of
payments of all transactions abroad provides the diagnostic elements, which allow the
assessment of the advantages and disadvantages that each nation has in trade with third
countries, creditors / debtors or international financial institutions. At the same time, the Balance
of External Payments allows the assessment of the attractiveness of the internal business
environment for resident and non-resident investors (when the business environment
deteriorates, investors orient their capitals to other more attractive markets, as well as the
assessment of the national economy. there is a deterioration of the attractiveness of the business
environment or the lack of external competitiveness is the appearance of a chronic imbalance in
the trade balance (lower exports than imports

Sl.11
The foreign exchange market in the Republic of Moldova is constantly under currency pressures,
which they have a variable character and positively correlate with the dynamics of remittances.
Remittance flows correlates positively with the structure and dynamics of operations on the
foreign exchange market, with the stock of assets NBM reserve, with money market
developments, budget revenues, in particular, from taxes indirect imports, and with the evolution
of GDP. Analysis of the dynamics of changes in reserve assets demonstrates the size and
frequency of NBM interventions. In parallel, high sterilization of money market liquidity
generates operational losses NBM, whose volume is
considerable. At the same time, the accumulation of official foreign exchange reserves involves
risks and costs more.
A positive correlation was identified between remittance inflows and expenditures
social security budget, including social assistance. The generalizing impact in this field it is
negative. This fact highlights the stridness of the restructuring of the state social assistance
policy.