Key facts
- Moldova's parliament approved a new government led by Prime Minister Vasile Tofan.
- The new government's program is titled 'The European Economy, an Effective State'.
- The goal is to sign an EU accession agreement by the end of 2028 and join the bloc by 2030.
- The budget deficit is targeted to be reduced by two percentage points by 2029.
- The government plans to privatize at least 10 state-owned companies.
Moldova's parliament has approved a new government led by Prime Minister Vasile Tofan, who outlined a program focused on economic revival and European integration. Tofan, a 45-year-old financier, secured a 53-vote majority with lawmakers from President Maia Sandu's Party of Action and Solidarity (PAS). Opposition parties abstained from the vote.
Tofan's government aims to sign an EU accession agreement by the end of 2028 and prepare Moldova for membership by 2030, with plans to open all negotiation areas with the EU this year. Moldova, one of Europe's poorest nations, faces uncertainty due to the war in neighboring Ukraine but recorded a 2.4% GDP rise last year and expects 2% growth in 2024.
The new cabinet also intends to reduce Moldova's budget deficit, currently at 20 billion lei ($1.1 billion), by two percentage points by 2029. Tofan pledged tax reform, cutting red tape, and improving business access to financing. His government also plans to privatize at least 10 state-owned companies and stimulate investment in technology and artificial intelligence.