GDP growth in Moldova is expected to rebound to 3% in 2013, driven by the recovery of agriculture, the World Bank has said, quoted by IPN.
In a roundtable meeting organized by the World Bank Office in Moldova, WB senior economist Ruslan Piontkivsky said that growth in real GDP is projected to remain subdued in the first half of the year. Improved external conditions and recovery in the agriculture sector (explained in large part by a low statistical base in 2012) will likely lead to acceleration in growth in the second half of 2013.
According to the latest statistical data, the agricultural production output fell by over 32% following the devastating drought.
World Bank Country Manager for Moldova Abdoulaye Seck said the WB is currently preparing a new Country Partnership Strategy to support Moldova in boosting prosperity and reducing poverty. The four-year strategy envisions financing of US$400 million and is intended to help Moldova to diversify and expand its endowment of institutional capital, human capital and natural capital. Moldova is also to further improve its business and investment climate and to develop education and healthcare and implement reforms in these sectors.
The WB projected a 4-5% growth over 2014-2015 with higher external demand for Moldova’s exports that will be supported by higher consumer and investor confidence.
