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Financial Risk Management In The Fiscal Policy Of The Republic Of Moldova: Challenges And Directions For Transformation

Author

Listed:
  • PRUTEANU, Mariana

    (Academy of Economic Studies of Moldova, Republic of Moldova)

Abstract

Financial risk management is increasingly central to fiscal policy in volatile and highly open economies. This paper assesses the fiscal risk management system of the Republic of Moldova using a SWOT framework complemented by a TOWS strategy matrix (SO, ST, WO, WT). The analysis relies on institutional and regulatory documents and selected international assessments to map strengths, weaknesses and external pressures affecting fiscal sustainability. The findings indicate four practical directions: embedding risk assessment in budget planning, strengthening analytical capacity for scenario and sensitivity work, expanding digital fiscal monitoring tools, and formalising cooperation with international partners. The paper concludes that these steps can improve the coherence of fiscal risk governance and support Moldova’s fiscal sustainability agenda in the context of EU-related commitments.

Suggested Citation

  • PRUTEANU, Mariana, 2026. "Financial Risk Management In The Fiscal Policy Of The Republic Of Moldova: Challenges And Directions For Transformation," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 30(1), pages 90-109, March.
    • Handle: RePEc:vls:finstu:v:30:y:2026:i:1:p:90-109
    DOI: https://doi.org/10.65672/fs.2026.1.5
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    References listed on IDEAS

    as
    1. Dyson, Robert G., 2004. "Strategic development and SWOT analysis at the University of Warwick," European Journal of Operational Research, Elsevier, vol. 152(3), pages 631-640, February.
    2. Ion CARA, 2023. "Risk management and internal control system of the Moldovan banks," Romanian Journal of Economics, Institute of National Economy, vol. 57(2(66)), pages 85-98, December.
    3. Emil DINGA, 2016. "A Logical Definition Of Fiscal Sustenability," Contemporary Economy Journal, Constantin Brancoveanu University, vol. 1(1), pages 5-13.
    Full references (including those not matched with items on IDEAS)

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    Keywords

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    JEL classification:

    • G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation

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