National Bank of Moldova publishes sectoral balance sheet data showing net financial worth improves to minus MDL 90.9 billion at end-September 2024

The National Bank of Moldova released sectoral balance sheet statistics for the national economy for end-September 2024. Net financial worth, defined as financial assets minus financial liabilities, stood at -MDL 90.9 billion, improving from -MDL 96.4 billion at end-2023, leaving the economy a net debtor to the rest of the world; the change reflected faster growth in assets (+7.3% since end-2023) than in liabilities (+5.9%). Households (including non-profit institutions serving households) remained the net creditor with net financial worth of MDL 226.9 billion (+4.9%), while nonfinancial corporations were the largest net debtor at -MDL 269.4 billion (4.4% more negative); the net debtor positions of financial corporations and general government narrowed to -MDL 19.1 billion and -MDL 29.3 billion, respectively. Net financial worth to GDP was -28.7%, 3.4 percentage points higher than at end-2023. Total debt across sectors reached MDL 604.0 billion (+4.9%), led by the financial sector (MDL 271.3 billion, 44.9% of the total); the debt-to-GDP ratio was 190.7%, 0.9 percentage points lower than at end-2023, with loans accounting for 37.9% of total debt and cash and deposits 37.0% (82.3% of the financial sector’s debt). Loans outstanding in the economy’s liabilities totaled MDL 228.8 billion (+5.9%), including MDL 114.1 billion in external loans (49.8% of total loans received), mainly to general government (54.1%) and nonfinancial corporations (36.8%).