{"id":267199,"date":"2013-06-25T22:46:21","date_gmt":"2013-06-25T22:46:21","guid":{"rendered":"http:\/\/new.moldova.org\/2013\/06\/25\/imf-sees-recovery-in-moldovan-economy-237533-eng\/"},"modified":"2013-06-25T22:46:21","modified_gmt":"2013-06-25T22:46:21","slug":"imf-sees-recovery-in-moldovan-economy-237533-eng","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/imf-sees-recovery-in-moldovan-economy-237533-eng\/","title":{"rendered":"IMF sees recovery in Moldovan economy"},"content":{"rendered":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

The International Monetary Fund (IMF) reported that the Moldovan economy “shows clear signs of recovery.” According to a statement issued on Tuesday, the real Gross Domestic Product (GDP) increased by 3.5% in the first quarter of the year. It has been primarily supported by expansion of exports, remittances and industrial production.<\/p>\n

The IMF experts foresee an increase by 4% in GDP in 2013, based on the prediction that in the second half of the year the agriculture recovers.<\/p>\n

“Inflation is expected to remain within the target range of the National Bank of Moldova (NBM), while the current account deficit could widen slightly on account of rising domestic demand,” the IMF said.<\/p>\n

The financial organization pointed out that despite of the full non-completion of the last program review the main goals have been achieved. The IMF said that Moldova succeeded reducing the budget deficit, keeping inflation in check, preserving financial stability and rebuilding international reserves.<\/p>\n

It reported that several structural reforms have been put in place: energy, education, social assistance and financial sector.<\/p>\n

“These policies helped Moldova recover strongly from the 2009 recession, reduced its vulnerability to adverse economic shocks, and set the stage for robust economic growth,” the financial organization said.<\/p>\n

IMF stressed that certain issues might emerge as a result of the planned radical makeover of taxation in agriculture, the re-opening of loopholes in the value-added tax regime which would weaken tax collection and the ad-hoc increase in pensions and salary hikes for public dignitaries which could strain budget resources.<\/p>\n

“The mission advises against the introduction of the single tax in agriculture and recommends that the other measures be reconsidered or offset within the envelope of an affordable budget,” IMF said in their statement.  <\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>The International Monetary Fund (IMF) reported that the Moldovan economy \u201cshows clear signs of recovery.\u201d According to a statement issued on Tuesday, the real Gross Domestic Product (GDP) increased by 3.5% in the first quarter of the year. It has been primarily supported by expansion of exports, remittances and industrial production.<\/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-267199","post","type-post","status-publish","format-standard","hentry","category-economy"],"content_social_share":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

The International Monetary Fund (IMF) reported that the Moldovan economy “shows clear signs of recovery.” According to a statement issued on Tuesday, the real Gross Domestic Product (GDP) increased by 3.5% in the first quarter of the year. It has been primarily supported by expansion of exports, remittances and industrial production.<\/p>\n

The IMF experts foresee an increase by 4% in GDP in 2013, based on the prediction that in the second half of the year the agriculture recovers.<\/p>\n

“Inflation is expected to remain within the target range of the National Bank of Moldova (NBM), while the current account deficit could widen slightly on account of rising domestic demand,” the IMF said.<\/p>\n

The financial organization pointed out that despite of the full non-completion of the last program review the main goals have been achieved. The IMF said that Moldova succeeded reducing the budget deficit, keeping inflation in check, preserving financial stability and rebuilding international reserves.<\/p>\n

It reported that several structural reforms have been put in place: energy, education, social assistance and financial sector.<\/p>\n

“These policies helped Moldova recover strongly from the 2009 recession, reduced its vulnerability to adverse economic shocks, and set the stage for robust economic growth,” the financial organization said.<\/p>\n

IMF stressed that certain issues might emerge as a result of the planned radical makeover of taxation in agriculture, the re-opening of loopholes in the value-added tax regime which would weaken tax collection and the ad-hoc increase in pensions and salary hikes for public dignitaries which could strain budget resources.<\/p>\n

“The mission advises against the introduction of the single tax in agriculture and recommends that the other measures be reconsidered or offset within the envelope of an affordable budget,” IMF said in their statement.  <\/p>\n

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