Experts expect Moldova's economy to stabilize
The Moldovan economy may stabilize in the next few months, obviously if no major economic shocks take place, the independent analytical centre Expert Group has said.
The moment of the economy's staunch economic restoration cannot be anticipated, and it might come later. The restoration «will depend on the quality of the economic reforms and government, the external economic situation and other factors that are not linked to the internal market», according to the magazine Economic Reality published by Expert Group.
The economists said the slowdown in the Moldovan economy witnessed over the last few months has stabilized. The 7-8-per-cent increase in the total loans is seen as one of the positive evolutions recorded in July. It is thought to be a rather unusual phenomenon, given the strong macroeconomic risks. The economists also praised the 4-to-5-per-cent increase in remittances from abroad in favour of private people. Nonetheless, the experts said it is «good news for a short time only, as long as they compensate to some extent the current account deficit, and support the domestic demand».
On the other hand, «positive tendencies have been overshadowed by several bad news, such as the 10-per-cent decrease in exports in July, predominantly caused by low demand in the EU countries and the unfavourable quality of banking portfolios».
According to the National Statistics Bureau, the Moldovan economy grew by 1 per cent in the first quarter of 2012 and by 0.6 per cent in the second.
Adapted from Moldpres