​TRANSNISTRIAN GDP WENT UP 3.6% IN 2018

In 2018, the GDP of the unrecognized Transnistrian Moldovan Republic (PMR) went up 3.6% and reached 13.8 billion local rubles (US$857.1 million).

According to the Transnistrian ministry of economic development, the share of industry, which includes energy, in the GDP structure accounted for 31.8%, non-market services – 23.85%, and trade – 14.47%.

According to minister Sergey Obolonik, the economic growth was provided by “the increase of newly created value in the industrial complex and investment activity activation”.

“The positive output dynamics was recorded in almost all key directions of the industry. However, in the second half of the year, the growth rates went down”, he said.

Obolonik also noted that thanks to the law on “state support of investment activity”, which entered into force on June 1, 2018, investors began to come to the region. Four investment contracts were signed with the investors from Romania, Ukraine, and Moldova and Italy totaling more than 4.7 million euros; three more agreements of intent were signed with the representatives of Austria, Bulgaria and Estonia. Today, the investment agency has 26 projects, half of which can be implemented in the nearest future.