Former government's denial of crisis delayed process of overcoming it, Petru Pripa

“The state must take measures to overcome the economic crisis and put all the citizens in the same conditions. Laws must be immediately adopted to boost economic recovery. We are already late as the former government denied that we face an economic crisis,” said the director general of the Chisinau Municipal Mortgage Agency (AMIC) and vice president of the Employers Federation of Builders, Road Workers and Producers of Building Materials “Condrumat” Petru Pripa, quoted by Info-Prim Neo. Speaking about the consequences of the world economic crisis for the construction sector, Pripa said that the financial situation of the building companies has worsened significantly. “However, the contractual obligations to those with whom we cooperated were honored,” he said. “The crisis made us look for unusual ways out. We had to concentrate all our financial and material resources on continuing the constructions and repaying the loans. The crisis showed us that there are many ways that can help improve the situation and that we have to employ unusual methods and show courage and determination,” Pripa said. According to him, the crisis was like a sieve for friends. “Not all those with whom we cooperated earlier behaved like true partners.” Pripa stressed that the governments of the countries affected by the economic crisis reduced the interest rates, but in Moldova they did the opposite. “The interest rate on loans abroad was 1-2%, while in Moldova it was 24-26% event if there was no inflation,” he said. The AMIC director also said that the construction sector next year should be encouraged to reach at least the same level as in 2007. “If we manage to do it, the situation will certainly improve. It is known that a country is prosperous when investments are made in it and when its construction sector is developing,” he said. According to Pripa, the stimulation of consumption would help overcome the crisis. In order to increase the people's purchasing power, the salaries must be raised. “Though they say that everything is expensive, the people must reassess their priorities. They spend a lot of money on not very important things like underwear, mobile phones etc. “The crisis can be overcome if every person will make effort. We must assume responsibility and take measures, not only criticize. The results depend on us. Some of the economic entities take risks and develop, while others make no progress. We can demand that the authorities show results, but we should not forget about our own responsibilities,” Petru Pripa said.