Moldova registers the first signs of economic recovery and as of the end of 2023 GDP is expected to grow by 2% - Dumitru Alaiba.
Minister of Economic Development and Digitalization wrote this on his social network page. "The first signs of economic recovery. Production and demand for goods and services are growing. This is encouraging our forecasts of economic growth at 2% this year," said Dumitru Alaiba. According to him, following last year's drought, agricultural production from January to September 2023 increased by 28% to 29 billion lei. This improvement is largely due to increased production of crops, especially grains, which has led to a revival in exports. Exports in September totaled $346 million and increased by 9%, compared to September 2022, boosted by shipments of fruits, nuts, vegetable oils, machinery and electrical equipment, pharmaceuticals, etc. The industry grew 1.5% in September, the first increase this year, driven by a recovery in the food industry. After an average decline of about 20% in January-July, food production rose 26% in August-September, with significant contributions from vegetable oil production, which increased 2.7 times, and fruit and vegetable processing and canning, which rose 21% in September. Positive changes this year also occurred in industries producing automobiles, machinery, pharmaceuticals, beverages and electrical equipment. "Thanks to looser monetary policy and falling interest rates, we have seen an improvement in personal lending, which is boosting consumption. Since April, demand for consumer loans has been on a positive trajectory, recording an annual growth of 30% to 6.9 billion lei in 9 months. At the same time, domestic trade in goods and services is also reviving. Retail sales grew by 9% in the last 2 months, while market services for households grew by 10% in the first 8 months of this year. Accommodation and food services grew by 20%, leisure and recreation services by 10% and travel agency and tour operator services by 18%. Other services registered strong growth of 29%. We continue to develop the economy despite the difficulties," said Dumitru Alaiba. // 21.11.2023 - InfoMarket
