The Russian economic recession and the decline of the ruble will hurt Moldova's economy, despite the current positive development indexes. The opinions were voiced during the “Fabrika” talk-show on Publika TV, IPN reports.
Dorin Vaculovschi, dean of the Faculty of General Economy and Law at the Academy of Economic Studies, said that the impact of the Russian economic crisis will be felt in Moldova regardless of the positive economic indexes in the country. “If we analyze each component, we see that this economic growth was sensitive. Because of the basis we set last year, we can't afford to stay idle. But no matter how close we get to the EU, Russia's economic problems will affect us as well. Our people depend on remittances, many of them speak and think Russian, and we have important economic flows with Russia”, argued the professor.
The director of the National Institute of Economic Research Alexandru Stratan agrees that the economic situation in Russia disadvantages the Moldovans. “Our economic growth is a good sign, but there are some questions regarding the quality of these indexes. I'd prefer for them to be based more on exports and foreign investments. Russia's situation, which is still a major market for our products, is bound to harm our exports. Meanwhile, Romania and the EU don't guarantee us stable exports. So, the Russian economic difficulties will strongly affect the life of people in Moldova”, said Stratan.
“IDIS” Viitorul expert Ion Tomea thinks that the decline of the Russian rouble will lead to a depreciation of the Moldovan leu. “Our current economic growth is based on the increased consumption and on an excellent agricultural year, which has lead to a growth of the processing industry. We mustn't rejoice however, because the depreciation of the Russian ruble will have an impact on our currency as well. Let's recall what happened to the Moldovan leu in 1998, when the Russian ruble plummeted. The risks for our economy are very big”, concluded Tomea.
The experts predict that Russian economy will fall into recession next year.
