Moldova's economy to record 3-4 per cent-growth in 2017

Chisinau, 6 November /MOLDPRES/- The economy of Moldova will register a 3-4 per cent-growth in 2017, forecasts confirmed by both national and international experts, Deputy Prime Minister, Minister of Economy and Infrastructure Octavian Calmic told an interview with the MOLDPRES State News Agency.

“After the 2014-2015 crises we had, including the banking crisis, the current government took a string of business support actions, foreign investments, economic policies that led to stability. By late 2016, we had a 4.3- per cent-increase. In 2017, this growth is continuous. We expect an increase of 3-4 per cent by late 2017”, Calmic said.

He noted that these forecasts are reconfirmed by both national and international experts. “We have an increase in exports and imports. The imports bring revenues to the state budget, which, according to the latest developments, registered an 18-per cent- increase. Exports have increased by 15 per cent on the Eastern and Western markets”, Calmic noted.

Calmic pointed out that exports of Moldovan products to the European market have reached a share of over 63 per cent and have a stable niche, and export quality has increased. Thus, if until the signing of the Association Agreement with EU Moldova exported only raw materials (cereals, fruits, vegetables, textiles that were processed), it now sells on foreign markets products with a much higher value, which ensures an increase in trade with the EU.

A distinct element, which Calmic referred to, is inflation. Moldova started the 2016 year with a galloping inflation of over 14 per cent. Our history has seen such inflation only in the 90s, when the Moldovan leu depreciated very quickly. “We managed to have a 2.4- per cent- inflation in late 2016, the lowest level since independence”, he also said.

The minister also added “surely, the natural disasters earlier this year overturned prices, but we managed to keep inflation within reasonable limits, agreed with the foreign partners, as well as on the basis of the mandate given by the parliament to the National Bank of Moldova. We have 6.5-7.0- per cent inflation, but next year we forecast inflation below 5 per cent. This makes us believe that  there will be no price increase, no tariff increase, no other negative phenomena that would lead to economic instability”.

(Reporter V. Bercu, editor L. Alcază)