By 2016, the cumulative economic growth in Moldova will be 29% on 2008. This means an annual economic growth of 4.5%, Deputy Prime Minister and Minister of Economy Valeriu Lazar said when presenting the reviewed forecast for the macroeconomic indicators for this year and for 2014 - 2016 in a meeting of the Economy Ministry’s Consultative Council, IPN reports.

“The economic growth this year is projected at 5.5%, by one percentage point higher than the forecast made at the beginning of this year. In reality, the growth will be 4% as we recovered last year’s 0.8% reduction in the GDP,” said Valeriu Lazar.

According to him, it is very important that Moldova recovered and now sees economic growth, while the statistical data for July and August show that the indicators improved in almost all the sectors of the economy.

“We took into account all the factors, including the forecasts of the financial institutions as regards the development of the world economy and of the economies of the countries that are the main commercial partners of Moldova. If nothing unordinary happens next year, the cumulative economic growth in Moldova by 2016 will be 29% on 2008, the year before the crisis,” said the minister.

He also said that the forecast is not an optimistic, but a reasonable one and the economic growth indicators may be higher if effort is made to improve the business environment, to create favorable conditions for entrepreneurial activities and to continue investing in the economic and social infrastructure. Investments are also to be made in the human capital – in education, training of specialists and skilled workers, creating of re-qualification possibilities for employees depending on the demand on the labor market.