In May, the EBRD had already lowered its GDP growth forecast for the republic to 1.8% from 2% (estimated in February this year). At the same time, as before, the bank confirmed the forecast of the Moldovan economy growth next year at the level of 3.8%.
“Despite subdued short-term growth, continued EU support, such as the €1.9 billion growth plan with €520 million in grants, could contribute to the economic recovery. Ongoing risks to the outlook stem from volatile energy prices, inefficient economic sectors and sluggish external demand,” the survey said.
Moldova’s GDP fell by 1.2% in the first quarter. The country’s economy continued to fall earlier this year after contracting 1.3% in the fourth quarter and 1.9% in the third quarter of last year. The publication of GDP data for the first half of the year has been postponed by the National Bureau of Statistics until September 30.
According to the IMF’s unrevised estimate, Moldova’s economy may grow by 0.6% in 2025, the European Commission expects an increase of 0.9%, the EBRD – by 1.8%, the World Bank – by 0.9%.
In July, Moldova’s Economy Ministry worsened its forecast for the country’s economic growth this year to 1.3% from 2%.
Moldova’s GDP will increase by 0.1% in 2024, after growing by 1.2% in 2023 and declining by 5.9% in 2022.
