Moldova’s budget for next year does not aim to ensure the development of the country, but to overcome the current crises. According to economist Viorel Gîrbu, the 2023 budget is an “emergency” one and is a “chaotic” document that was adopted unreasonably swiftly, IPN reports.

Speaking on Radio Free Europa as part of the podcast “In essence...”, the economist said that given the multiple crises experienced by Moldova, the Government in 2023 will be like a “firefighter” that will try to cope in an emergency regime without thinking too much and to act so as not to lose control over the situation.

According to the expert, the budget deficit of over 18 billion lei (more than 6% of the GDP) will be a burden for the Republic of Moldova and will generate “substantial risks”. As Moldova does not have broad access to international financial markets, the executive will be able to use only two instruments: external support and loans from the domestic market. But internal loans fuel inflation and ruin the national economy.

Partially, the budget for next year is in the interests of the citizens as it comes with particular support for the efforts to overcome the energy crisis and the inflation crisis. On the other hand, Viorel Gîrbu criticizes the authors of the main financial document of the country for directing insufficient funds to programs to develop and support the economy. “There are no public policies on areas. It is a budget designed to respond to particular critical developments and that’s all,” Viorel Gîrbu stated for RFE/RL’s Moldovan Service.