Moldova will fully overcome crisis in 2013- 2014, Economy Ministry

“The results achieved last year were strengthened and this is good. Moreover, the sectors that were seriously affected by the crisis and could not recover in 2010 made progress in the first three months of this year,” Deputy Prime Minister and Minister of Economy Valeriu Lazar said, Info-Prim Neo reports. In a meeting at the Ministry of Economy, Valeriu Lazar said the transport sector in January-March this year grew by 43% compared with the corresponding period last year. Exports continued to increase. They rose by 58.2% in the period. Imports grew by 44%. The minister stressed that the industry started to recover, especially the extractive one (+ 26.5% compared with the figures for the first quarter of last year). The construction sector also showed signs of recovery. There are favorable conditions for growth in the agricultural sector owing to a favorable regional conjuncture and the demand for agrifood products. “These results enable us to forecast that Moldova’s economy will fully overcome the crisis in 2013 – 2014. As to separate sectors, industry and agriculture may completely recover the next year,” said Valeriu Lazar, adding that reforms should be insistently promoted and the barriers to trade removed for this to happen. An economic growth of 7-8% is forecast for the first quarter of this year. The GDP growth for 2011 is projected to be 5%. The inflation rate will be 8%. The exchange rate of the national currency will be 11.7 lei per US dollar. On an average term, in 2012-2014, the GDP is forecast to grow by 4.8%. The rate of inflation in 2012 will be 5.7%. It will decrease to 5% in 2013-2014. The exchange rate of the Moldovan lei will be relatively stable in 2012-2014 and will be 12 lei per US dollar.

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