Adrian Lupușor, executive director of the Independent Think Tank “Expert-Grup”, anticipates the risk of political pressure and pressure on the part of particular business circles on the monetary policy of the National Bank of Moldova. “The National Bank coped with this pressure so far,” stated Adrian Lupușor, being quoted by IPN.
“Expert-Grup” welcomes the central bank’s January 29 decision to keep the base rate on the main monetary policy operations at the level of last month. It noted the bank should maintain that independence that ensures macro-financial stability this year, which is an electoral one.
Adrian Lupușor said that besides pressure, the meteorological risks could also influence the macro-financial stability. 2020 started with rather higher temperatures, with shortage of precipitation and the agricultural sector and the economy in general face risks. The agricultural production, agrifood industry and exports risk being compromised this year if the current weather conditions persist.
The continuous worsening of the demographical situation in the country, in parallel with the deteriorating conditions on the labor market, also brings risks to the macro-financial stability. “The conditions on the labor market became harsher, with the employment rate decreasing and business partners’ signals about the difficulties encountered in identifying labor force for their activities worsening,” said the director of “Expert-Grup”. He noted that it is important to optimize the system for forecasting the labor force necessities of firms in parallel with the stabilization of the education system so that this better matches the dynamics of the demand and labor force in the real sector.
