Government forecasts economic growth of 4% for this year

The Government projects that the economic growth in 2009 will be 3.5 – 4%, while the rate of inflation 8.6%, First Deputy Prime Minister Igor Dodon said at a news conference on January 27, quoted by Info-Prim Neo. Though the regional and international conjuncture is not favorable, the Moldovan exports will increase, Dodon said, without specifying how much. He said yet that the previous forecasts of 18-19% are too optimistic. Speaking about the economic results achieved in 2008, the First Deputy Prime Minister said that the GDP will grow by 6.5% (the final figures will be known in the first half of February), while the yearly rate of inflation will be 7.3%. Services will make up 61% of the GDP, industry - 15%, agriculture - 10%. Last year, exports rose by 22%, while imports by 34%. The agricultural production increased by 32%, while the industrial output by 0.7%. The Minister of Economy and Trade also said that the European Union is Moldova’s major trade partner with a share of over 51% of the total exports. Most of the investments come from the EU. The foreign direct investment for last year will total 600 – 650 million dollars. Over the first nine months of 2008, the FDI was 503 million dollars, as against 493 million dollars during the whole 2007.