As the world economy is constantly changing, the integration of banking and financial markets has reached the point where one country’s economy may affect the economies of other countries as well. Particularly in times of financial crisis it is essential to use state resources in a rational and efficient way to ensure that a state economy will be less influenced by external factors. In order to monitor the correct implementation of all the state aid in Republic of Moldova, the Competition Council, with the support of the World Bank, has implemented the Electronic Informational Register of Recording and Monitoring State Aid – SIRASM. SIRASM contributes to a more efficient way of use of state resources by:
- Improving efficient of allocation of public funds
- Ensuring transparency in the use of public money;
- Improving the implementation of competition law;
- Promotion of competition culture;
- Improving the competitive environment.
SIRASM will help to establish a system of state aid monitoring and – the main task – to implement a monitoring mechanism to assess the impact of state aid on the competition environment. It provides information resources on state aidfor public authorities – state aid providers and beneficiaries – and online notification and reporting of state aid. EFFICIENT USE OF PUBLIC MONEY This objective will be achieved on three levels: 1. country level; 2. district level; 3. level of state aid providers, because it enables all involved to:
- Save time and financial resources when including information in the state aid inventory.
- Save financial resources for postal dispatches and telephone conversations.