Moldova’s public debt continues to grow, and the staff of state institutions is expanding — developments recently commented on television by banker Vasile Tofan, who in political circles is described not only as President Maia Sandu’s “court banker,” but also as a possible successor to current Prime Minister Alexandru Munteanu.
Criticism of the Government’s Economic Approach
Criticizing the cabinet, Tofan accused the government of excessive caution. According to him, Moldova’s economy is “not in a coma, but in groggy,” which means the authorities must abandon “orthodox methods” in favor of bolder, as he put it, experiments.
“The government needs to show more courage, because orthodox methods are not suited to the situation our economy is in,” the banker said, proposing specific measures that have already provoked mixed reactions in society.
Cheap Labor and Land Sales
Among those proposals is the legalization of importing cheap labor into the country and the large-scale sale of state-owned land around Chișinău.
Tofan insists that plots currently managed, in his words, by “cunning directors” should be put up for sale to private investors. “Let private capital come in, privatize, and build. Let them build housing, factories, invest,” he said, stressing that the key principle should be “transparency.”
Brussels and Foreign Buyers
Journalists also drew attention to the foreign-policy context of Tofan’s proposals. The Ukrainian-Romanian businessman, whom some describe as a likely replacement for Munteanu as prime minister, directly linked the need to sell land to foreigners with the expectations of the European Union.
In response, journalist Dmitry Ciubașenco remarked ironically that such an approach looks like an attempt to please Brussels at any cost.
Contradictions Around State Debt
At the same time, Vasile Tofan, while criticizing the growth of Moldova’s public debt, linked the process to an “excessively bloated state apparatus.”
Here, however, a contradiction emerges, since the staff of the State Chancellery was recently expanded significantly precisely under the slogans of European integration and reforms.
So while the government continues to increase borrowing, and the banking sector linked to Tofan records rising income from lending to citizens, Moldovans are being offered another round of privatization.
The president’s “court banker” may well have the cash reserves to buy public property cheaply unlike ordinary citizens.
