FINANCIAL RISK MANAGEMENT IN THE FISCAL POLICY OF THE REPUBLIC OF MOLDOVA: CHALLENGES AND DIRECTIONS FOR TRANSFORMATION

Mariana Pruteanu

doi:10.65672/fs.2026.1.5

FINANCIAL RISK MANAGEMENT IN THE FISCAL POLICY OF THE REPUBLIC OF MOLDOVA: CHALLENGES AND DIRECTIONS FOR TRANSFORMATION

Authors

Mariana Pruteanu - PhD Candidate, Academy of Economic Studies of Moldova, Republic of Moldova.

Landing page: https://www.icfm.ro/fs.icfm.ro/articles/vol30i1p90-109.html

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DOI: 10.65672/fs.2026.1.5

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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.

JEL Classification

G17, G18, G32, H21

Keywords

fiscal sustainability, strategic risk assessment, fiscal governance, public finance management, macroeconomic vulnerability

How to cite

Mariana Pruteanu (2026). FINANCIAL RISK MANAGEMENT IN THE FISCAL POLICY OF THE REPUBLIC OF MOLDOVA: CHALLENGES AND DIRECTIONS FOR TRANSFORMATION. Financial Studies, 30(1), 90-109. DOI: 10.65672/fs.2026.1.5.

RePEc record

Handle: RePEc:vls:finstu:v:30:y:2026:i:1:p:90-109