The slowdown in economic growth comes from outside the country and is determined mainly by the reduction in the demand for Moldovan products in certain European countries that account for almost 50% of Moldova’s exports. Such an assessment was made by the participants in a roundtable meeting at the Academy of Economic Studies of Moldova that focused on the realities and prospects of the Moldovan economy, Info-Prim Neo reports. The Academy’s rector Grigore Belostecinic said that there are now no preconditions for a new wave of the crisis, as in 2008-2009. Alexandru Stratan, director of the Institute of Economy, Finances and Statistics, said that Moldova is a small country with an open economy that exports most of its products. That’s why it is vulnerable. The about 60 participants in the discussions, who were known economists working at ministries and scientific research institutions and for national and international projects, agreed that despite these difficulties Moldova will see an economic growth this year, even if small (1% according to the Ministry of Economy). The same opinion was shared by the World Bank Director for Moldova Abdoulaye Seck. He said that Moldova can maintain an economic growth trend even if the external situation is not very favorable, but it must insistently promote reforms. According to Abdoulaye Seck, the World Bank will continue to support Moldova. The negotiations with the Ministry of Finance to provide a loan of US$30 million to increase competitiveness were recently closed. The lending agreement is to be examined and approved in the October 30 meeting of the WB Board of Directors. The governor of the National Bank of Moldova Dorin Dragutanu said the promotion of reforms and the modernization of economy remain Moldova’s main objectives. As to the national bank, he stated that the institution took measures to stimulate lending by banks and the diminution of the interest rates on loans, encouraging thus the development of the real sector of the economy. The discussions centered mainly on the identification of methods of enhancing the competitiveness of Moldova and eliminating the related discrepancies in relation to the EU and other countries. The meeting participants said this objective can be achieved by improving the education system and increasing the role of the research-development-innovation sphere and the financial support, including from the state budget, for these areas.