{"id":239144,"date":"2006-09-14T16:24:00","date_gmt":"2006-09-14T16:24:00","guid":{"rendered":"http:\/\/new.moldova.org\/2006\/09\/14\/i-m-f-reduces-economic-growth-forecast-for-moldova-down-to-3-percent-18262-eng\/"},"modified":"2006-09-14T16:24:00","modified_gmt":"2006-09-14T16:24:00","slug":"i-m-f-reduces-economic-growth-forecast-for-moldova-down-to-3-percent-18262-eng","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/i-m-f-reduces-economic-growth-forecast-for-moldova-down-to-3-percent-18262-eng\/","title":{"rendered":"I.M.F. reduces economic growth forecast for Moldova down to 3 percent"},"content":{"rendered":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

The International Monetary Fund (IMF) has reduced the economic growth forecast for Moldova for this year from 6 percent down to 3 percent, according to the IMF’s report on development perspectives of world economy World Economic Outlook, made public on Thursday, September 14. <\/p>\n

The forecast for the inflation rate was increased from 9.4 percent up to 10.5 percent, while the current account balance compared with Gross Domestic Product from 5.4 percent up to 10.5 percent. <\/p>\n

These changes were expectable after an IMF mission visited Chisinau in the mid-July. Thomas Richardson, IMF chief negotiator for Moldova, said then that the forecasts must be updated due to external shocks, double prices of Russian gas imported by Moldova and restriction of imports of Moldovan wines by Russia. <\/p>\n

\"\""The modification of some parameters of the government’s Memorandum approved by IMF in May 2006, including those regarding the economic growth, inflation, currency reserves, is unavoidable," he noted. <\/p>\n

As regards the evolutions of Moldovan economy in 2007, the IMF is more sceptical than in April, when the precedent report was launched. It forecasts a 3.0 percent growth of Moldovan economy, a 10.5 percent inflation rate, a 6.8 percent current account deficit compared with GDP for 2007. Earlier, it has anticipated a 5.5 percent economic growth and a 8.7 percent inflation rate for Moldova for 2007. <\/p>\n

According to an annex to the IMF’s report, Moldova is included among net debtor countries. It also indicates the high remittances of Moldovans working abroad legally or illegally. <\/p>\n

The government also expects slower growth paces of Moldovan economy, as it has recently updated its forecasts from 6.5 percent down to 4.0 percent for this year and from 6.0 percent down to 4.0 percent for 2007. It anticipates a 12 percent inflation rate, compared with 10 percent forecasted earlier, and 10.5 percent for 2007. \/\/ BASA-Press<\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>I.M.F. reduces economic growth forecast for Moldova down to 3 percent<\/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-239144","post","type-post","status-publish","format-standard","hentry","category-economy"],"content_social_share":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

The International Monetary Fund (IMF) has reduced the economic growth forecast for Moldova for this year from 6 percent down to 3 percent, according to the IMF’s report on development perspectives of world economy World Economic Outlook, made public on Thursday, September 14. <\/p>\n

The forecast for the inflation rate was increased from 9.4 percent up to 10.5 percent, while the current account balance compared with Gross Domestic Product from 5.4 percent up to 10.5 percent. <\/p>\n

These changes were expectable after an IMF mission visited Chisinau in the mid-July. Thomas Richardson, IMF chief negotiator for Moldova, said then that the forecasts must be updated due to external shocks, double prices of Russian gas imported by Moldova and restriction of imports of Moldovan wines by Russia. <\/p>\n

\"\""The modification of some parameters of the government’s Memorandum approved by IMF in May 2006, including those regarding the economic growth, inflation, currency reserves, is unavoidable," he noted. <\/p>\n

As regards the evolutions of Moldovan economy in 2007, the IMF is more sceptical than in April, when the precedent report was launched. It forecasts a 3.0 percent growth of Moldovan economy, a 10.5 percent inflation rate, a 6.8 percent current account deficit compared with GDP for 2007. Earlier, it has anticipated a 5.5 percent economic growth and a 8.7 percent inflation rate for Moldova for 2007. <\/p>\n

According to an annex to the IMF’s report, Moldova is included among net debtor countries. It also indicates the high remittances of Moldovans working abroad legally or illegally. <\/p>\n

The government also expects slower growth paces of Moldovan economy, as it has recently updated its forecasts from 6.5 percent down to 4.0 percent for this year and from 6.0 percent down to 4.0 percent for 2007. It anticipates a 12 percent inflation rate, compared with 10 percent forecasted earlier, and 10.5 percent for 2007. \/\/ BASA-Press<\/p>\n

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