International Monetary Fund improves forecast for Moldovan economy
Moldova is expected to record a 4.5-per-cent economic growth in 2011, followed by a higher growth of 4.8 per cent in 2012, according to the report World Economic Outlook, unveiled by the International Monetary Fund (IMF) on 11 April.
In October 2010, the IMF forecast a 3.5-per-cent growth for Moldova's economy. Yet, after the unexpected 6.9-per-cent economic growth, the International Monetary Fund and other international institutions have improved their economic forecasts for Moldova.
Although the prospects are more optimistic, Moldova is expected to have the lowest economic growth among the members of the Commonwealth of Independent States (CIS), except Azerbaijan, which will see a 2.8-per-cent economic growth, according to the IMF experts.
As for the CIS, the International Monetary Fund foresees an economic growth of 5 per cent in 2011 and 4.7 per cent in 2012. The highest economic growth is expected to be recorded in two countries with great energy resources, Turkmenistan - 9 per cent and Uzbekistan - 7 per cent. Moldova's top economic partners, Russia and Ukraine, will have an economic growth of 4.8 per cent and respectively 4.5 per cent.
The IMF experts said that the region is benefiting from Russia's gradual economic recovery, which took place due to high prices of raw materials.
The International Monetary Fund anticipates an average annual inflation of 7.5 per cent in 2011, 6.3 per cent in 2012 and 5 per cent in 2016 in Moldova. It is the lowest forecast inflation among the CIS members, except Azerbaijan. The current account deficit is expected to stand at 11.1 per cent in 2011, 11.2 per cent in 2012 and 9.3 per cent in 2016.
The Economics Ministry forecast a 21-per-cent growth in the Gross Domestic Product (GDP) by 2014 against 2008, which was the last year before the economic crisis. The GDP for 2011 is estimated at 82.1 billion lei, which makes by 4.5 per cent more than in 2010.
Moldpres
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