Experts of the National Institute for Economic Research (NIER) forecast that that economic growth this year will be at most 3.75%, IPN reports, quoting the Institute’s quarterly analysis publication “Trends in Moldova’s Economy”.
NIER director Alexandru Stratan said the worsening of the relations between Russia and Ukraine, which will affect the economic development in Moldova, and the imposition of new restrictions by Russia on the movement of labor force and products coming from Moldova, 3.7% is the highest economic growth rate that the national economy can achieve. A poorer performance is not excluded.
Attending the presentation of the publication, Deputy Prime Minister and Minister of Economy Valeriu Lazar stated that the Ministry of Economy will provide the updated economic growth forecast for this year in May, after it is discussed with the IMF mission that will be in Moldova until April 30.
“I think that an economic growth of 3 – 4% is a real scenario for this year. But we also have an optimistic scenario, according to which the economic growth will be 7%. The coming into force of the Association Agreement and of the Deep and Comprehensive Free Trade Agreement offers new opportunities that will enable to diminish a part of the negative effects caused by the developments on the eastern market. We will continue to discuss with out partners from Russia and we devote increased attention to this aspect,” he said.
Valeriu Lazar also said the fact that the structural reforms promoted over the last few years started to produce results is a guarantee of economic growth.
“Exports will grow following the rise in industrial production. Here we agree with the experts of the NIER. We have high hopes related to the enhanced competitiveness of our goods on the domestic and foreign markets, given the simplified procedures for starting and running businesses, removal of trade barriers, implementation of information technology in the relations between the business community and state institutions. Besides, we see that the Moldovan business community became more mature and will profit from the liberalized visa regime with the EU in order to establish new business contacts and to attract foreign direct investment to production,” stated Valeriu Lazar.
