{"id":382618,"date":"2014-04-02T23:55:24","date_gmt":"2014-04-02T20:55:24","guid":{"rendered":"http:\/\/www.moldova.org\/?p=382618"},"modified":"2014-04-02T23:55:24","modified_gmt":"2014-04-02T20:55:24","slug":"world-bank-moldovas-economic-growth-to-decelerate-to-2-in-2014","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/world-bank-moldovas-economic-growth-to-decelerate-to-2-in-2014\/","title":{"rendered":"World Bank: Moldova\u2019s economic growth to decelerate to 2% in 2014"},"content":{"rendered":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

Moldova\u2019s economy is vulnerable to risks related to \u201ca volatile external environment and challenges affecting the country\u2019s financial sector,\u201d shows the latest World Bank Moldova Economic Update.<\/p>\n

\u201cBecause of weaknesses in the external environment and a projected slowdown in agriculture, we expect growth to decelerate to 2% in 2014 and stabilize at 4-4.5% during 2015-2017,\u201d said Qimiao Fan, World Bank Country Director for Belarus, Moldova and Ukraine.<\/p>\n

The economy registered a record-high in 2013, having an 8.9% GDP growth. It resulted from a productive harvest year and increased private consumption. A significant contribution was made by remittances and slight wage increase.<\/p>\n

According to the World Bank, remittances reached a record-high level last year. These were mainly driven by the CIS countries. Due to the slowdown of the economic activity in Russia, the remittances seem to be lower in early 2014.<\/p>\n

Moldova\u2019s external position has been strong, real exports increasing two times faster than real imports to 10.7% year-on-year vs. 5.5% year-on-year.<\/p>\n

The World Bank warns Moldova that an economic activity slowdown in its Eastern neighborhood is likely. It also points out that there are possible disruptions in macroeconomic management ahead of the upcoming parliamentary elections.<\/p>\n

\u201cTo fully reap the benefits of a robust economic performance and mitigate external and internal risks, Moldova must continue to address key challenges to growth, by improving its business climate, ensuring financial sector stability and development, enhancing equity and efficiency of public expenditures, and most importantly, improving governance,\u201d said Qimiao Fan.<\/p>\n

Moldova has received over $1 billion since it joined the World Bank in 1992. The current World Bank Group Country Partnership Strategy for Moldova includes total commitments of $570 million in assistance for fiscal years 2014-2017.<\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>Moldova\u2019s economy is vulnerable to risks related to \u201ca volatile external environment and challenges affecting the country\u2019s financial sector,\u201d shows the latest World Bank Moldova Economic Update. \u201cBecause of weaknesses in the external environment and a projected slowdown in agriculture, we expect growth to decelerate to 2% in 2014 and stabilize at 4-4.5% during 2015-2017,\u201d […]<\/p>\n","protected":false},"author":1,"featured_media":261116,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-382618","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"content_social_share":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

Moldova\u2019s economy is vulnerable to risks related to \u201ca volatile external environment and challenges affecting the country\u2019s financial sector,\u201d shows the latest World Bank Moldova Economic Update.<\/p>\n

\u201cBecause of weaknesses in the external environment and a projected slowdown in agriculture, we expect growth to decelerate to 2% in 2014 and stabilize at 4-4.5% during 2015-2017,\u201d said Qimiao Fan, World Bank Country Director for Belarus, Moldova and Ukraine.<\/p>\n

The economy registered a record-high in 2013, having an 8.9% GDP growth. It resulted from a productive harvest year and increased private consumption. A significant contribution was made by remittances and slight wage increase.<\/p>\n

According to the World Bank, remittances reached a record-high level last year. These were mainly driven by the CIS countries. Due to the slowdown of the economic activity in Russia, the remittances seem to be lower in early 2014.<\/p>\n

Moldova\u2019s external position has been strong, real exports increasing two times faster than real imports to 10.7% year-on-year vs. 5.5% year-on-year.<\/p>\n

The World Bank warns Moldova that an economic activity slowdown in its Eastern neighborhood is likely. It also points out that there are possible disruptions in macroeconomic management ahead of the upcoming parliamentary elections.<\/p>\n

\u201cTo fully reap the benefits of a robust economic performance and mitigate external and internal risks, Moldova must continue to address key challenges to growth, by improving its business climate, ensuring financial sector stability and development, enhancing equity and efficiency of public expenditures, and most importantly, improving governance,\u201d said Qimiao Fan.<\/p>\n

Moldova has received over $1 billion since it joined the World Bank in 1992. The current World Bank Group Country Partnership Strategy for Moldova includes total commitments of $570 million in assistance for fiscal years 2014-2017.<\/p>\n

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