Moldavian Economy Ministry Expects GDP to Grow 5.5% in 2013
OREANDA-NEWS. In nominal terms, GDP will make MDL 97.6 billion against MDL 87.8 billion in 2012. At a sitting of the advisory committee, taken part in by representatives of business associations, state institutions and non-governmental associations, Vice-premier, Minister of Economy Valeriu Lazar voiced the economy of Moldova had a rally following the recession of 2012 and came back to the stable 4% to 5% growth . In the first 6 months of 2013 GDP of Moldova grew 4.9% and is expected to increase 28% against the before-crisis 2008. The structure of the economic growth has also gradually improved: In 2013 the share of industry reached 14.6% of GDP, capital investment and direct foreign investment making 22.6% and 3.5% respectively. The Economy Ministry notes the agricultural sector is recovering after the drought of 2012 and measures to support farmers, new investments and wider access to lending will let the sector grow in 2013. In 2013, experts project the real agricultural output will increase 27.5% to MDL 25.2 billion. Industrial output will increase 6% to MDL 39.7 billion. Export and import are expected to increase 9% and 6.5% to USD 2,350 and USD 5,550 million respectively. Taking into consideration evolution of industry, agriculture and foreign trade as well as other economic factors, investment in long-term tangible assets is expected to increase 10.5% to MDL 19.4 billion. As of the end of 2013, inflation will make 3%, the average core inflation making 4.1%. The Ministry explains such projections by rather low domestic demand, high agricultural supply and slightly decreasing global oil prices. In 2013, the average MDL/USD exchange rate has been 12.57 and is expected to amount to 13.1 by the end of the year. Key factors underlying the change are foreign currency injections, development of foreign trade and swings in the USD exchange rate on international markets, as well as NBM's interventions in the currency exchange market to withhold the inflation with the target established. The national salary is projected to make up MDL 3,825, 10% up in nominal terms and 5.7% up in real ones.
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