INCREASE OF PURCHASES THROUGH CREDIT CARDS REDUCES ROLE OF SHADOW ECONOMY - IDIS VIITORUL

veaceslav Ionita from the "Viitorul" [Future] Institute for Development and Social Initiatives (IDIS Viitorul), believes that the increase in number of purchases through credit cards leads to a significant reduction of the role of shadow economy in Moldova.

He noted in his research that for the last three years the use of credit cards by Moldova citizens is growing at an exponential rate (by almost 50%).

"In 2015, the monetary amount of purchases and payments was about 2.3 billion lei, while in 2016 it amounted to almost 3.3 billion lei. In 2017, it will increase up to 5 billion", stressed Ionita.

According to the expert, it seems that visa regime liberalization stimulated Moldova citizens to wider use of credit cards.

Veaceslav Ionita thinks that if the use of credit cards continues to grow, it will greatly improve the Moldovan economy and will bring it to the European standards.