IMF resident to Chisinau: Impact of world crisis on Moldova's real sector of economy seems much bigger than said weeks ago

The impact of the financial crisis over the real sector of the Moldovan economy seems to be much bigger than it was said a couple of weeks ago. The statement was made by the permanent resident of the International Monetary Fund to Chisinau, Johan Mathisen. At a sitting of the Economic Press Club, he says the impact is felt through the decrease of the demand for Moldovan exports, jobs, remittances and, especially, through the decrease in investments, Info-Prim Neo reports. Johan Mathisen spoke of the need to deepen the reforms and to further improve the business climate, since the competition for investments among the countries in the region is going to be harsh. The impact of the financial crisis on the financial-banking sector will not be significant, the IMF resident says. According to him, the world will get out of recession not in 2009, but in 2010. These weeks, the world financial crisis is turning into an economic crisis in such countries as the USA, Russia, manifest through smaller jobs, halting companies, Mathisen stated. “At the reunion of the 20 largest world economies (G20), they stressed the need to identify joint measures and to coordinate actions. Adequate monetary and budget-fiscal policies are necessary, but also an approach allowing for the uniformity of the development of all the countries. The highly-industrialized states have more possibilities to use monetary and budget-tax tools, compared with the states having external debts and limited possibilities,” the IMF resident to Chisinau said.