{"id":237612,"date":"2006-02-27T19:24:00","date_gmt":"2006-02-27T19:24:00","guid":{"rendered":"http:\/\/new.moldova.org\/2006\/02\/27\/e-b-r-d-forecasts-lower-growth-paces-for-moldovan-economy-10129-eng\/"},"modified":"2006-02-27T19:24:00","modified_gmt":"2006-02-27T19:24:00","slug":"e-b-r-d-forecasts-lower-growth-paces-for-moldovan-economy-10129-eng","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/e-b-r-d-forecasts-lower-growth-paces-for-moldovan-economy-10129-eng\/","title":{"rendered":"E.B.R.D. forecasts lower growth paces for Moldovan economy"},"content":{"rendered":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

The growth pace of the Gross Domestic Product (GDP) of Moldova will decline down to 5-5.5 percent in 2006, the European Bank for Reconstruction and Development (EBRD) forecasts. <\/p>\n

"The Moldovan economy could be affected by some micro-shocks related to higher prices of fuel resources and lack of access to some traditional exportation markets," Alexandru Chirmiciu, country economist of EBRD, has stated to BASA. <\/p>\n

Moldova has registered strong rise paces in the past years, up to 7.5 percent in 2005, but it still remains the poorest country in Europe, posting a GDP of 903 dollars per capita in 2005, according to the 2005 transition report, an annual publication of EBRD launched in Chisinau on Thursday. <\/p>\n

"The lack of progress of structural reforms, deficiencies of financial sector, such as hard bank supervision and lack of transparency, slowing down of privatisation process are the main shortcomings for Moldova," Chirmiciu noted. <\/p>\n

According to the Bank, the business environment in Moldova has improved in the area of taxation, crime rate, and anti-corruption struggle in a smaller measure. "However, the state interference, weak judiciary and limited access to financing are major obstacles. The business environment in Moldova did not reach the standards of developed market economies," EBRD economists said. <\/p>\n

EBRD says that a sustained development in Moldova depends on reduction of state interference in economy, building of strong financial sector, consolidation of its regulatory authorities, consolidation of legislative framework, intensification of efforts against corruption. <\/p>\n

The transition report of EBRD shows that the telecommunication market of Moldova is rapidly developing, but some plans on modification of tariffs of the national wire telephony operator Moldtelecom have been stopped. At the same time, the privatisation of the wire telephony operator is not regarded as a priority goal anymore. Liberalisation of the energy market was postponed until 2006. The reform of municipal infrastructures does not progress, though the tax collection level has grown, but the tariffs still are lower than costs, the EBRD added. \/\/ BASA-Press<\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>The growth pace of the Gross Domestic Product (GDP) of Moldova will decline down to 5-5.5 percent in 2006, the European Bank for Reconstruction and Development (EBRD) forecasts.<\/p>\n

“The Moldovan econo<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-237612","post","type-post","status-publish","format-standard","hentry","category-economy"],"content_social_share":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

The growth pace of the Gross Domestic Product (GDP) of Moldova will decline down to 5-5.5 percent in 2006, the European Bank for Reconstruction and Development (EBRD) forecasts. <\/p>\n

"The Moldovan economy could be affected by some micro-shocks related to higher prices of fuel resources and lack of access to some traditional exportation markets," Alexandru Chirmiciu, country economist of EBRD, has stated to BASA. <\/p>\n

Moldova has registered strong rise paces in the past years, up to 7.5 percent in 2005, but it still remains the poorest country in Europe, posting a GDP of 903 dollars per capita in 2005, according to the 2005 transition report, an annual publication of EBRD launched in Chisinau on Thursday. <\/p>\n

"The lack of progress of structural reforms, deficiencies of financial sector, such as hard bank supervision and lack of transparency, slowing down of privatisation process are the main shortcomings for Moldova," Chirmiciu noted. <\/p>\n

According to the Bank, the business environment in Moldova has improved in the area of taxation, crime rate, and anti-corruption struggle in a smaller measure. "However, the state interference, weak judiciary and limited access to financing are major obstacles. The business environment in Moldova did not reach the standards of developed market economies," EBRD economists said. <\/p>\n

EBRD says that a sustained development in Moldova depends on reduction of state interference in economy, building of strong financial sector, consolidation of its regulatory authorities, consolidation of legislative framework, intensification of efforts against corruption. <\/p>\n

The transition report of EBRD shows that the telecommunication market of Moldova is rapidly developing, but some plans on modification of tariffs of the national wire telephony operator Moldtelecom have been stopped. At the same time, the privatisation of the wire telephony operator is not regarded as a priority goal anymore. Liberalisation of the energy market was postponed until 2006. The reform of municipal infrastructures does not progress, though the tax collection level has grown, but the tariffs still are lower than costs, the EBRD added. \/\/ BASA-Press<\/p>\n

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