The International Monetary Fund forecasts a 3.5% growth of the Moldovan economy in 2018 and a 3.8% growth - in 2019

The International Monetary Fund forecasts a 3.5% growth of the Moldovan economy in 2018 and a 3.8% growth - in 2019

20.03.2018

This is stated in the new, April review of the IMF "World Economic Outlook". According to the IMF forecasts, in 2018 the inflation rate in Moldova will be 4.7%, and in 2019 - 5.1%. It is expected that in 2023 Moldova's GDP growth will be 3.9%, and inflation - 5.1%. It should be noted that following the results of the IMF's assessment mission’s work in our country from March 15 - March 27, it was stated that the fund increased the forecast for Moldova’s GDP growth in 2018 to 3.8%. It is obvious that the updated macroeconomic forecast will be contained in the next IMF review. The head of the IMF mission, Ben Kelmanson, during a joint press conference with Moldovan Prime Minister Pavel Filip noted that the Moldovan authorities have made progress in strengthening economic policies and eliminating vulnerabilities in the banking and financial sector. The efforts they have made have contributed to maintaining the financial stability and strengthening the basis for achieving medium-term goals. Ben Kelmanson noted that in 2017 there was a steady growth rate, which was supported by a strong domestic demand and a favorable external environment. "We expect these trends to continue in 2018. We forecast stable economic growth at 3.8%," the IMF mission head said. As InfoMarket agency reported earlier, the Moldovan government forecasts that the country's GDP growth in 2018 will be 3%, but notes the availability of the potential for achieving higher growth of the country's economy this year. In the next 2 years, the Cabinet expects the economic growth at 4%. This forecast of the macroeconomic indicators was taken into account by the Ministry of Finance when drafting the Law on the State Budget for 2018. It is planned that in nominal terms the GDP of Moldova in 2018 will be 160.1 billion lei, in 2019 - 174.5 billion lei, and 2020 - 190.2 billion lei. The Moldovan government forecasts an average annual inflation of 4.3-4.9% for the next 3 years. It is forecasted that in 2018 the average annual inflation rate will be 4.3%, in 2019 - 4.8%, in 2020 - 4.9%. It is expected that inflation at the end of 2018 will be 3.5%, and at the end of 2019 and 2020 - 5% each. The GDP of Moldova increased in 2017 by 4.5%, making in monetary terms 150 billion 369 million lei; inflation was 7.3%.