IGOR DODON SAYS GOVERNMENT IS FORECASTING BUDGET DEFICIT OF 5-8 BILLION LEI IN 2020

Moldova will not reach the 3.7% of GDP, planned in the Law on the 2020 State Budget, said President Igor Dodon in his traditional live communication with citizens.

Answering to the question about the forecasted budget deficit in 2020 in connection with the Covid-19, the head of state said that at the current stage the Government considers three scenarios. According to the optimistic one, there will be no growth of economy against 2019. In two other scenarios the GDP this year will register -3% or -5%.

“We forecast that during the state of emergency in the country, when many enterprises are not working, the economy decline will reach 10-15%. In general for the current year we do not expect such a slowdown of Moldova’s economic development, supposing that it will not exceed 3-5%”, the president said.

According to him, Ion Chicu Government is so far guided by three forecasts, which say that the 2020 state budget deficit may account for 5-7-8 billion lei.

Speaking about the perspective of Moldovan economy development, the president said that there are many sectors which do not demand great money influence. This means that after crisis they can continue dynamically developing, making up for lost time.

“I am sure we will come out from this crisis as winners, but this does not mean there will be no losses. Unfortunately, losses are inevitable. However, Moldova will be different”, the president said.