The economic growth in the Republic of Moldova during the last few years has been insufficient, considers doctor Petrișor Peiu, coordinator of the Economic Analyses Department of the Black Sea University Foundation. In debates centering on the European integration of Moldova held in Bucharest, Petrișor Peiu said the economic growth of 4.5% on average logged in Moldova during the last few years in under the economic growth levels in the states of Eastern Europe, IPN reports.
According to him, the economic stabilization in the Republic of Moldova was ensured with the assistance of Bucharest. “Romania made use of an unusual instrument – the famous loan of €150 million. This loan was provided to Moldova in non-transparent conditions and without any conditionality,” stated Petrișor Peiu.
The Romanian expert noted the government of Moldova didn’t manage to solve the structural problems faced by the Moldovan economy. “The structure of the Moldovan economy is non-European. Agriculture accounts for 15% of the economy. In the European states, the share of the economy is much lower. For example, the agriculture in Romania represents less than 5% of the country’s economy,” he stated.
According to Petrișor Peiu, Moldova’s economy didn’t manage to become competitive and figures on the balance of exports confirm this. The value of Moldova’s imports is US$ 4.8 billion, which is twice higher than the value of exports. The trade deficit of US$ 2.4 billion represents 29% of the GDP.
The debt of approximately US$ 7 billion to Russia’s Gazprom is a big vulnerability of Moldova. This debt is almost equal to the country’s annual GDP, stated the expert.
The debate staged in Bucharest by the Black Sea University Foundation was entitled “Republic of Moldova Today. European integration between hopes and disappointments”. The debate involved the PAS leader Maia Sandu and PPPDA leader Andrei Năstase.
