Moldova's economy is still not in the best shape, but at the same time there are a number of positive signs of its recovery - Radu Marian.
Chairman of the parliamentary committee on economy, budget and finance expressed this opinion, noting that the country’s GDP in Q1 2024 increased by almost 2%, compared to the same period in 2023. Industrial production for January-April this year grew by almost 3%, including the manufacturing industry - by 2.1%. For the first time since the start of the war in Ukraine, private investment increased in Moldova (+12%). In retail trade in January-April 2024, growth was 10.2% after a long period of decline in 2022-2023. Also, for the first time since the start of the war in Ukraine, wholesale trade in Moldova increased in April (+9%), which signals the activation of the private sector. Radu Marian also pointed out that agricultural production in the country increased by 11.6% in January-March this year, this increase was due to livestock farming, where the figure increased by 11.7%. Private consumption grew by 1.6% in Q1 2024, mainly due to a 10% increase in wages, as well as improved credit conditions. Thus, the average interest rate on consumer loans decreased from approximately 16.4% in Q1 2023 to 11.5% in the Q1 2024. As a result, the volume of consumer loans over the same period increased 1.7 times. “However, we still have a long way to go before we achieve the required growth rates. Stimulating private investment (for example, program 373, which has already attracted investments of almost 2 billion lei) and public investment (European Village 2 program, road construction) is important to accelerate economic growth in Moldova,” Radu Marian concluded. // 05.07.2024 - InfoMarket.
