IMF forecasts that GDP growth in Moldova in 2007 will be 4.5-5%
The mission of the International Monetary Fund predicts that the GDP growth in Moldova in 2007 will be 4.5-5%. Last year it forecasted a 3% growth for 2007.
Thomas Richardson, Deputy Division Chief, Northeaster Division in the IMF’s European Department, told a news conference on Wednesday that the optimistic forecasts are based on the outlook for resuming wine exports to Russia and on the lower than expected gas price fixed for the final consumers in Moldova.
At the same time, the IMF expressed concern over the high inflation rate, which was nearly 13% in 2006. Richardson voiced hope that the rate of inflation in 2007 will not exceed 10%. For this purpose, the mission will support a number of monetary policy measures taken by the National Bank.
Richardson stressed the importance of Moldova reaching an agreement over wine exports with Russia. He said that Moldova would supply less wine to Russia, but it is important that the wine be of a higher quality and more expensive. He added that if the wine problem is not solved, Moldova can count on the support of the IMF, which provides assistance to the states subjected to foreign shocks. // Reporter.MD
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