The Ministry of Economy reviewed the economic growth forecast for this year from 3% up to 4.5%, IPN reports.

According to the Ministry’s forecast note, the GDP in 2017-2020 is expected to grow by 3.5-4.5% a year. The growth will be determined by the improvement of the economic-financial situation worldwide, more intense promotion of exports, development of private enterprises and provision of state and other kinds of support for these.

The exchange rate of the Moldovan leu in the period is projected to fluctuate insignificantly, between 20 lei and 22.4 lei per US dollar. The maintaining of the exchange rate at practically the same level will contribute to the stability of prices. The inflation rate at the end of this year is forecast to be of 6.5%, in 2008 of 5.5%, while in 2019-2020 of 5% a year.

The rise in investments in long-term tangible assets at an annual average rate of about 6.1% in 2017-2020 will be an important factor that will contribute to economic growth. Exports will grow by 7.5% a year in 2017-2020, while imports will rise by 5.4% a year in the period.

According to the Ministry of Economy’s estimates, the GDP growth in 2017-2020 will be generated by a 5.5% annual rise in industrial production and a 3.6% increase in agricultural production in real terms and by the augmentation of the growth rate of investments in long-term tangible assets as a result of the orientation of the investment policy towards performance programs.

The state budget for 2017 was formed based on an economic growth of 3%, an inflation rate of 4.4% and an exchange rate of about 20.00 lei per US dollar. The average salary is projected to be of 5,300 lei, up 7.6% on 2016 in nominal value. The Ministry of Finance counts on the restoration of foreign trade, a 10% increase in exports and a 9% rise in imports.