At what stage of its historical development does Moldova find itself on the eve of its 24th anniversary from economic, political and social points of view? Is the development process normal, fast, slow? What are the lessons we have learned and those we are yet to learn? What are the short-term and long-term prospects of Moldovan society? These are the questions IPN is trying to answer through a series of articles titled “Moldova at 24 years of age: Who are we? Where are we going?”, by speaking to experts from different fields.
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Economist Grigore Vieru, asked to appreciate the stage of Moldova's development after 24 years of independence, said that the country's economy is just starting to look like a market economy, but still doesn't meet all the requirements of this qualification. He thinks our country is vulnerable on a macroeconomic level and the effects of external and internal economic shocks are felt profoundly, which hampers the normal functioning and development of the sectors of national economy. Thus, we are still an economy in transition.
The economic development is lagging behind, despite the reforms initiated in the 90s, when Moldova adopted the Concept of transition from planned to market economy and the macroeconomic stability program. Back then, Moldova was one of the leaders in the Commonwealth of Independent States when it came to promoting economic reforms. Unfortunately, this process soon stagnated because of political difficulties at the time and then came the economic and financial crisis of 1998.
The good results achieved then weren't enough to ensure economic development after 2000. That's why many people went abroad to search for work. They became the lifeline of our economy. The money they sent back home stimulated consumption, which then boosted the growth of several branches of economy, especially constructions and services. Additionally, this lead to the growth of imports. Yearly, the GDP grew. However, this wasn't sustainable development. The remittances are a short and medium-term solution. We saw how vulnerable we are in 2009, warned the expert.
According to Grigore Vieru, things didn't change much after the Alliance for European Integration came to power: bureaucracy, corruption and the lack of rule of law are still the main obstacles for the country's economic and social development.
Mariana Galben, IPN
