The trend of accelerating inflation in the Republic of Moldova, which started in December last year, is expected to continue in the first months of 2025, estimates Veaceslav Ionita, an expert in economic policies at the Institute for Development and Social Initiatives "Viitorul". The expert notes that, despite the rising cost of loans, Moldovans continue to take out loans, and their number could further increase, potentially reaching a historic record in 2025, IPN reports.

In his author’s show, Veaceslav Ionita mentioned that in 2024, banks granted a record number of loans, especially for consumption, and the trend may continue this year, even though the National Bank of Moldova (BNM) is trying to discourage loans through additional monetary policy tightening measures.

The decision of the National Bank of Moldova to raise interest rates will make loans more expensive, but this will have a limited effect on Moldovans' decision to take out loans, estimates the expert.

“Moldovans have already accepted the recent price increases, and this will have a limited impact on their decision to take out loans. This fact could force the BNM, at least a few more times, to raise the base rate to discourage consumer loans,” said Ionita.

The expert observes that throughout the years, consumer loans have dominated, followed by real estate and business loans. “Consumer loans granted to individuals reached an absolute record in 2024. Over 200,000 loans. Each quarter, 60,000 consumer loans were taken. Almost double compared to 2023. If this trend continues in 2025, the number of consumer loans could rise to about 250,000, even if the BNM tries to discourage loan-taking,” the expert emphasized.