Moldovan economics ministry revises upwards to 4.5 per cent estimations on economy's evolution in 2017

Chisinau, 10 March /MOLDPRES/ - The Economics Ministry has revised upwards to 4.5 per cent the estimations concerning the Moldovan economy’s growth this year, from the earlier anticipated three per cent, according to a forecast note made public by the ministry on 9 March.    

A 3.5-4.5 per cent annual increase in the Gross Domestic Product (GDP) is forecast for 2017-2020. The growth will be prompted by the improvement of the economic and financial context at the world level, more intense promotion of exports, development and backing by the state of enterprises from the private sector, pressing ahead with the structural reforms and other factors, the Economics Ministry said.  

According to the ministry, non-essential fluctuations of the Moldovan leu’s exchange rate against the U.S. dollar, between 20 lei and 22.4 lei for one dollar, are forecast for the end of each year during 2017-2020. The relative maintenance of the exchange rate at the same level will contribute to the stability of prices; the inflation rate in late 2017 is forecast at 6.5 per cent, at 5.5 per cent for 2018 and at five per cent for 2019 and 2020, respectively.    

The important factor due to contribute to the growth of the national economy will be the increase of investments in material assets for long term by a yearly average of 6.1 per cent in 2017-2020, the updated forecast also shows. The exports will increase by 7.5 per cent yearly in 2017-2020 and the imports will grow by 5.4 per cent annually on the concerned period.  

According to estimations, the GDP’s increase in 2027-2020 will be prompted by: annual 5.5-per cent growth of the industrial production in real terms and of the agricultural production by 3.6 per cent; the pace of increase of investments in material assets for long term will exceed the one of the GDP’s growth as a result of reorientation of the investment policies to performance programmes, modernization of Moldovan enterprises, infrastructure and development of the small business.  

The 2017 state budget was built on a slight three-per cent growth, a 4.4 per cent inflation rate and an exchange rate of about 20 lei for one dollar. For 2018, the average salary is scheduled to stand at 5,300 lei, up by 7.6 per cent in nominal value against 2016. The Finance Ministry relies on a reestablishment of the foreign trade, ten-per cent increase of exports and nine-per cent rise in imports.   

(Reporter V. Bercu, editor L. Alcaza)