OREANDA-NEWS. October 30, 2012. As presenting more precise macro-economic measures for 2012, Vice-premier, Minister of Economy Valeriu Lazar noted the Ministry started to revise the projections at once as received economic statistics for the first 6 months of 2012: GDP grew 0.8% and the severe drought considerable worsened the situation in the agricultural sector.

According to Lazar, in 2012 GDP is projected to be 88.3 bln. leis instead of 90.1 bln. leis projected earlier. It is expected to grow 15 in 2012 and 3.5% in 2013. In 2014 -2015 the economy will recovery to 5-5.5% a year, projected earlier, the Ministry of Economy projects. According to Lazar, the drought did a lot of harm to the agriculture, where production would decline by 16% to 20.3 bln. leis following 2012.

However, losses in the agriculture may be even higher and the decline may exceed 20%. It will probably take 2-3 years for the agricultural sector to recover, the Minister stressed. Nevertheless, the Ministry projects the 85 growth. Industrial production is projected to increase 1% to 35.7 bln. leis in 2012 and 4% in 2013. Exports will grow 1% in 2012, 9% in 2013 and 14-15% in 2014 and 2015. Imports will increase by 1% in 2013, and 7.55 in 2013. The Minister pointed out stagnation in the permanent investment.

 This showing will unlikely grow by the end of 2012 and will make up 17.2 bln. leis; it will increase 85 in 2013. The nominal wage will grow 5% to 3500 leis by the end of 2012, 3900 by the ned of 2013 and 4300 by the end of 2014.

The annual inflation is expected to by 4.8% in 2012 instead of 5.1% projected; it will be 6.4% in 2013 and will come back to 5% in next years. The Minister of Economy concedes that the macroeconomic projection updated in October can be revised till the end of the year.