In just four years, the purchasing power of the euro in Moldova has fallen by more than 70%. What you used to buy for €100 in 2020 today you buy for €170, says economist Veaceslav Ionita.
According to Ionita, a salary of €1,000 today is equivalent to €590 in 2020.
In 2000, when Moldovans living abroad sent back €100, this money had impressive purchasing power. In 2020, you needed €240 to buy the same amount of goods. In 2024, the situation has worsened, for the same goods you need €400, says Veaceslav Ionita.
The expert explains this phenomenon by the galloping inflation and price increases in recent years, which have decreased the real value of money.
"Salaries in euros seem high on paper, but in practice they are rapidly losing ground," writes Veaceslav Ionita on his blog.
