ECONOMY MINISTRY TARGETS 3%-4.5% MOLDOVAN GDP ANNUAL GROWTH IN 2016-2018

The Moldovan economy in 2016-2018 will annually go up 3%-4.5%, while the annual average exchange rate of the Moldovan leu will make 20.4-22.1 MDL per US$1, say the data of the Ministry of Economy (MoE) Department of Analysis and Macroeconomic Forecasts, published in the annex to preliminary forecast of macroeconomic indexes 2015-2018.

Experts say that the share of industry in the GDP structure will grow from 14.8% to 15.3%, of domestic trade – from 13.5% to 13.9%, while of the gross fixed capital formation – from 22.4% to 22.9%.

With all this, the relative containment of the exchange rate will contribute to prices stability. Thus, the inflation in 2016 is expected at 6.4%, while in 2017 and 2018 – 5% each.

The growth of investments in long term tangible assets are targeted within 6.3%, which will contribute to growth of the national economy, creation of jobs, growth of domestic products’ competitiveness, increase in domestic supply and extension of production.

The rehabilitation of the external demand, raising of agriculture products’ supply, investments in modernization and extending of the technological basis are factors that will allow 8% export raising annually. With all this, the expected import will be of 7%, which is due to rehabilitation of the internal demand, especially for raw material from the part of businesses, raising of investments, especially in producing cars and electronic equipment. The largest share in total volume of import will traditionally account for energy resources, especially due to prices on natural gas and petroleum.

The current forecast does not provide any changes in labor market within the coming years. Raising of employment in 2016-2018 will make 0.2%, while the labor productivity will increase 4%.