The appreciation of the European common currency and the devaluation of the leu can represent a good strategy of the National Bank of Moldova (BNM) for developing the Moldovan economy, but this will happen only if the leu recovers towards winter, economic expert of IDIS “Viitorul Corina Gaibu stated for IPN.
“The exports in summer-autumn are massive and this strategy, in principle, will stimulate exports. Until this year, if we follow the development of the exchange rate, the leu appreciated in summer and depreciated in winter. In fact, this discouraged exports. In winter, when energy resources were imported massively, the leu depreciated and inflation went up. The strategy implemented this year is welcome,” said Corina Gaiu.
Alexandru Fala, program director at IDIS “Viitorul”, considers that the appreciation of the euro will lead to a rise in prices. But this rise will not seriously affect the economy owing to the counterbalance that can have an effect on the country’s economy and the state budget. “There are now no reasons for concern. We will worry when the appreciation of the euro is long lasting,” he told IPN.
On August 12, the central bank announced an exchange rate of 17.01 lei per euro, which is the highest rate this year. Over the last three years, the European common currency exceeded the level of 17 lei only on May 5, 2011.
