OREANDA-NEWS. October 24, 2011. The European Bank for Reconstruction and Development (EBRD) has improved its forecast for Moldova's economic growth in 2011 from 5.5 per cent predicted in July 2011 to 6 per cent, and has decreased the economic forecast for 2012 from 4.5 per cent to 4 per cent, according to an EBRD report on regional economic prospects.

The significant upturn of Moldova's economy was also backed by the increasing remittances and exports, as well as by the rising investments, which have improved the country's prospects. Yet, the EBRD experts said that the Moldovan economy is vulnerable to the economic evolutions of the top trade partners and to the hesitant entries of remittances. The immediate economic prospects are "limited by the continuous political uncertainty", the report said.

The EBRD experts also noted that the Moldovan economy is influenced by the Euro zone, which is facing the problem of sovereign debts, with an index of 15 per cent of the Gross Domestic Product.

The EBRD forecast shows a 4.5-per-cent growth in transition countries in 2011 and a 3.2-per-cent in 2012, by 0.3 per cent and 1.2 per cent less than the forecast made in July. In 2011, Moldova's leading trade partners - Russia, Ukraine and Romania - might record an economic growth of 4 per cent, 4.5 per cent and 1.5 per cent, respectively.

The bank also changed the forecast for Moldova's economic growth in 2011, from 4.8 per cent expected in July to 4.5 per cent.

Recently, the International Monetary Fund has announced that given a 7-per-cent increase in the country's GDP, Moldova will record the highest economic growth in Europe in 2011. The IMF has also forecast a 4.5-per-cent economic advance in 2012. In September, the Economics Ministry improved the forecast for the pace of economic growth for 2011 from 5 to 6 per cent. As for the next year, the ministry forecast a decreasing economic growth from 5 to 4.5 per cent.