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The Vienna Institute for International Economic Research has raised its forecast for Moldova's GDP growth in 2021 from 7% to 8%.

The Vienna Institute for International Economic Research has raised its forecast for Moldova's GDP growth in 2021 from 7% to 8%.

At the same time, the experts of the institute believe that Moldova will have the third highest economic growth rate this year among the 23 countries of Central, Eastern and Southeastern Europe (CESEE), for which they make their forecasts. According to their estimates, the strongest economic recovery after the pandemic among the countries of Central, Eastern and Southeastern Europe in 2021 will be in Turkey and Montenegro, where GDP growth is projected by 9.1% and 8.4%, respectively. In Moldova, GDP is expected to grow by 8%, compared with a 7% decline in the previous year, which will bring real GDP back to the pre-crisis level of 2019. As noted, the new government, oriented to the West and to reforms, has a majority in parliament and can attract significant funds from abroad to finance the budget deficit and the current account. Herewith, the Vienna Institute for International Economic Research has retained its forecast for Moldova's GDP growth in the next 2 years and expects that in 2022 Moldova's GDP growth will be 4.5%, and in 2023 - 4%. Meanwhile, experts have raised the inflation forecast in our country this year and the next few years. According to the new forecasts of experts, inflation in Moldova in 2021 is expected at 4.5%, in 2022 - 6%, and in 2023 - 5%, whereas earlier it was predicted at 3.6%, 4.2% and 4.5%, respectively. As InfoMarket reported earlier, Moldova's GDP in the first half of 2021 amounted to 104.2 billion lei in nominal terms, an increase of 11.7% compared to the same period in 2020. Moldova's budget for 2021 was drawn up taking into account economic growth projected for this year at 4.7%. Subsequently, the macroeconomic forecasts were revised, and the Ministry of Economy and Infrastructure announced that the real GDP growth of Moldova in 2021 will be 6%. At the same time, Minister of Economy Sergiu Gaibu recently announced that Moldova's GDP growth by the end of 2021 will exceed 7%.// 29.10.2021 — InfoMarket

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