The World Bank has revised an economic growth of 2.8% for Moldova in 2017
World Bank forecasts an economic growth of 2.8% for Moldova in 2017, according to the Global Economic Prospects report.
The World Bank estimates a growth of 3.3 percent in 2018 and 3.7 percent in 2019 for the Moldovan economy in the same report. The prospects for 2017 – 2019 are above average for the region. On the other hand, estimates for further years were revised to get lower by 1.2 percentage points.
World Bank predicts for Europe and Central Asia region, which includes the Republic of Moldova, economic growth averaged to 2.4 per cent in 2017, 2.8 per cent in 2018 and 2.9 per cent in 2019.
For 2016 the economic growth forecast for Moldova was 2.2%, the country recovering from the recession recorded in 2015.
The World Bank experts noted that the economic advance in 2016 was supported, partially, by an easier re-launch registered in the Russian Federation and Ukraine, which is closely related to Moldovan economy. Similarly, the report notes that it could have a negative effect by reducing the flow of remittances and lower exports demand. The budget for 2017 was built on an economic growth of 3.0 per cent, an inflation rate of 4.4 per cent and an exchange rate of about 20.00 lei per dollar.
According to WB’s report, the Russian economy will grow by 1.5 and 1.7 per cent during 2017 and 2018, Ukrainian – by 2.0 and 3.0 per cent, while Romania will register an advance of 3.7 and 3.4 per cent.
Deschide.MD recalls that Minister of Economy, Octavian Calmic, during a press conference, said that in 2016 was recorded an economic growth of over 3%, which means about 1% higher than the forecasts made at the beginning of the year by IMF, World Bank, Economy Ministry, and also experts. He also said that this trend must be maintained for 2017.