Necessities and priorities of economic recovery in Moldova, debates

There is a crisis of liquidities in Moldova, especially for the SMEs. As a result, the enterprises fulfill their obligations towards employees with difficulty and the working hours and salaries are thus reduced. If they intervene now, the situation can be remedied. The state intervention should focus mainly on a state emergency loan guarantee fund, especially for SMEs, and a mechanism for compensating for the cut working hours should be implemented, Adrian Lupușor, executive director of the independent think tank “Expert Grup”, stated in the debates “Investment and economic recovery plan for the Republic of Moldova: Necessities. Priorities. Sources”, which was staged by the Institute for European Polices and Reforms (IPRE), IPN reports.

According to Adrian Lupușor, the measures should be aimed primarily at women, as polls show that they were the most affected ones, at employees of the informal sector, employees with low salaries and those whose work contracts are valid for a definite period of time, seasonal workers. It is important to create an anti-crisis cell for coordinating foreign funds.

Mathieu Bousquet, Head of Unit at the European Commission, said that after the pandemic, the EU will remain near de Moldova. The multiannual indicative program for Moldova for 2021-2027 is being drafted. The EU is ready to support the reforms that refer to the preeminence of law, justice sector, fight against corruption, promotion of civic involvement. It is important to work out a new solid strategy for managing public finances and the EU is ready to help Moldova in this regard.

Lilia Palii, secretary general at the Ministry of Economy and Infrastructure, said the macro-economic projection for 2021, which was coordinated with IMF experts, envisions an economic growth of 4.7%. The Ministry of Economy worked out a plan to limit the socioeconomic impact of COVID-19, to help the firms recover and to adjust the economy to the prolonged pandemic conditions. The implementation of these measures necessitates additional support from the development partners.

MEP Siegfried Mureșan, co-president of the EU – Moldova Parliamentary Association Committee, said the EU investments in the Republic of Moldova can be a big source of income and of job generation. The faster the EU recovers from the pandemic, the better it will be for the Republic of Moldova. It could export more and there will be bigger investment chances. The money coming from the EU could be channeled to climate, digitization, economic cohesion, social cohesion, institutional resilience and the youth. To ensure economic recovery, investments should be attracted and this can be done by reforms.

Veaceslav Negruța, advised to the President of the Republic of Moldova, said a massive investment is needed in interconnection and infrastructure. The Association Agreement and the Free Trade Agreement should be implemented further. A forum of donors should exist to determine the necessities, costs associated with a long-term investment plan in Moldova. For the purpose, the justice sector reform should be done, the rule of law should be ensured, a new government should be installed to assume and implement a plan of reforms, including in the economy.

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