OREANDA-NEWS. June 29, 2010. The government ruled to dissolve the state treasury, which is subordinated to the Finance Ministry.

Finance Minister Veaceslav Negruta has told journalists that the State Treasury is to be liquidated while taking into account the experience of other states, where the treasuries were liquidated in the 1990s. Negruta added that much public money is spent to maintain the state treasury, which is inefficient and costly.

Negruta said that a part of the state treasury's assets, in the form of gold and silver bullions, will be given to the National Bank of Moldova for the completion of the reserve of precious metals; another part, consisting of jewelry, will pass on to the Culture Ministry. The third part, which represents goods that were confiscated by the Centre for Combating Economic Crimes and Corruption, will be managed by the State Fiscal Service.

Under the decision, the state treasury's goods will be transmitted in 60 days.

The finance minister avoided to make public the quantity and values of the treasury's assets, saying that this is a state secret.

As much as 1.5 million lei (94,000 euros) is spent annually to maintain the state treasury.