Economy returned to level before crisis, central bank

The Moldovan economy will reach the potential development level sooner than expected. The Gross Domestic Product (GDP) in the first nine months of the year had grown significantly. This shows that the economy recovered considerably, Info-Prim Neo reports, quoting a communiqué from the National Bank of Moldova. The GDP in January-September 2010 increased in real terms by 6.5% compared with the corresponding period last year. According to the Bank’s experts, this means that the economy returned to the level before the crisis, but has not yet fully recovered. Internal demand continues to be the determinant factor in the GDP growth though it had a lower contribution than in the previous quarter. Exports in the third quarter of this year rose by 14.7% compared with July-September, contributing to the growth of the GDP. A large part of the internal demand continues to be oriented to imported goods. This shows that the competitiveness of the national products is low. The 6.7% rise in the gross value added in the sectors of the economy also contributed to the growth of the GDP. In the construction sector, the gross value added in the third quarter grew by 18.1%. .