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Following the results of 2017, the World Bank lowered the forecast regarding Moldova’s expected economy growth, but raised the forecast regarding our country’s GDP growth in 2018 and 2019

Following the results of 2017, the World Bank lowered the forecast regarding Moldova’s expected economy growth, but raised the forecast regarding our country’s GDP growth in 2018 and 2019

This follows from the report of the World Bank "Global Economic Prospects, published in January. According to the document, following the results of 2017, the World Bank expects the growth of the Moldovan GDP at the level of 3.5% instead of the previously forecasted 4%. At the same time, the WB experts increased the forecast for Moldova’s GDP growth for 2018 and for 2019 by 0.1 percentage points in both cases and expect that this year the growth of the Moldovan economy will be 3.8%, and next year - 3.6% instead of the previously forecasted 3.7% and 3.5%, respectively. Analysts of the World Bank also believe that in 2020 the growth of Moldova's GDP will be 3.3%. It should be noted that during the previous World Bank's "World Economic Prospects" report in June, the WB raised the forecast on Moldova’s GDP growth in 2017 from 2.8% to 4%, and in 2018 - from 3.3% to 3.7%. At the same time, WB experts lowered the forecast on Moldova’s GDP growth for 2019 from 3.7% to 3.5%. WB analysts noted earlier that in 2017-2019, the economic growth in Moldova will be supported by consumption and stimulating fiscal policy. They pointed out that in 2017 the growth of Moldova's GDP will be ensured by a significant export increase, a good harvest of agricultural products, higher consumption, higher wages, and in 2018 - due to the growth of public investments and the further increase in the labor migrants’ remittances as well as the increase in the foreign investment inflows amid the improvement of the situation in the financial sector and the improvement of the business climate. At the same time, among the risks to threaten the economic growth, the WB experts mentioned the possible slowdown in the implementation of reforms in the period before the parliamentary elections in 2018, as well as the possible weaker economic growth of Moldova's key partners - the EU and Russia, which could negatively affect the economic growth our country. It should be noted that according to the National Bureau of Statistics, Moldova's GDP in January-September 2017 amounted to 109 billion 444 million lei, increasing by 3.8%, compared with the same period in 2016. At the end of the last year, the government of Moldova lowered the forecast regarding the GDP growth for 2017 from 4.5% to 3.5%. Last year, the IMF reduced the forecast on Moldova's GDP from 4.5% to 4%, and then to 3.5%. In 2018, the IMF forecasts a 3% growth of Moldova's GDP. Moldova’s draft budget for 2018 was developed by the authorities, taking into account the forecast on the GDP’s 3% growth, but the government notes the potential for achieving higher growth in the country's economy this year. // 10/01/2018 - InfoMarket.

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