Vasile Tofan
Moldova is approaching a demographic and economic turning point. There is already almost one working person per one pensioner. And by 2030, this indicator will be reduced to 0.8 working persons per one pensioner, he said.
“We are at a critical point. It is past the time when you could be diplomatic, persuade and tell people what they want to hear – it is time to tell the unpleasant truth. We have 1.1 working people per pensioner. Realize that tomorrow, in 2026, it will likely be one to one, and by 2030 it will be 0.8 working people per retiree. The numbers are getting worse and worse. Soon we will simply be physically unable to pay pensions if we don’t reform. And when I say “reforms”, I am not saying that pensions should not be raised. On the contrary, pensions should be raised. But to raise them, we need to call the problems by their proper names. Where will we cut spending from? This applies to ministries, mayoralties and district councils. Where will we attract people from – if Moldova does not have enough of its own? Where will we attract capital and structural funds from?”, asks the investor.
He believes that without structural external funds Moldova will not be able to develop and that “compared to Western countries, we have a very low level of public debt”.
“Our public debt is 35% of GDP, in Romania – 60%, in France – 110%, in the USA – 120%. Compared to these Western countries, our economy actually has a very low level of debt. I am not saying that we should increase the debt. Every public leu should be spent responsibly. And the less we spend, the better, if we get the same results for the same money. But at the same time, we have to invest in roads, schools, education, health care. Because otherwise, how will we raise the country from its knees?” said Vasile Tofan on Rlive.
According to Tofan, Moldova cannot be self-sufficient – it is “a complete absurdity”. Therefore, he suggests joining large trade blocs, “with which we can trade, to which we can sell our products, because our economy is 20 billion euros, and the EU economy is 30 trillion euros”.
“Of course, we should integrate to sell our products there and attract structural funds – at least a billion euros a year to invest in roads, hospitals, schools and everything that needs to be built in this country,” says the investor.
