Economy Ministry raises economic growth forecast for this year

The 2013Gross Domestic Product is projected to total 96.9 million lei, up 4% compared with 2012.  The Ministry of Economy reviewed the forecast of the macroeconomic indicators for 2014-2016 made in March, anticipating that agriculture will have a greater influence on the GDP growth. As a result, the growth will be by about 2.2% higher, IPN reports.

According to a communiqué from the Ministry, the GDP in 2014-2016 will grow at an average rate of about 4.7%, which is the real annual growth. The resource structure of the GDP will change. The share of industry, construction sector and foreign trade will increase. Owing to the relatively low internal and foreign demand, the share of final consumption and net exports will diminish.

The forecast is based on certain developments in the world economy, especially the economy of the countries that are Moldova’s main trade partners, and on the economic context in the EU member states. The results achieved last year in the main sectors of the national economy and the projected rate of inflation and exchange rate of the leu, coordinated with the IMF, were also taken into account.

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