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Moldova's econ min raises 2019 GDP growth forecast to 4.2%

Moldova's econ min raises 2019 GDP growth forecast to 4.2% Moldova's GDP - quarterly growth

CHISINAU (Moldova), October 22 (SeeNews) - Moldova's economy ministry said it has lifted its forecast for the country's 2019 economic growth to 4.2%, from 3.7% predicted in July.

In 2020, Moldova's economic expansion is seen at 3.8%, the same growth rate projected in July, the ministry said in a macroeconomic forecast published on Friday.

Moldova's gross domestic product (GDP) is expected to amount to 208.3 billion lei ($12 billion/10.7 billion euro) at current prices in 2019, data showed.

The country's economy expanded by 5.8% year-on-year in real terms in the second quarter of 2019, with wholesale and retail sectors the main growth drivers, according to data published by Moldova's statistical office.

In 2018, the country's economy expanded by 4.0% in real terms, mainly on the back of successful performance of wholesale and retail.

Moldova's economy ministry expects a 7.5% inflation at the end of 2019 and 5% at the end of next year. Moldova posted an annual consumer price inflation of 6.3% in September, up from 5.5% in the previous month, according to the National Bureau of Statistics.

In October, the World Bank maintained its April forecast for the growth of the Moldovan economy in 2019 at 3.4%.

The most recent International Monetary Fund (IMF) forecast is also more pessimistic than the economy ministry's prediction. In October, the global lender maintained its forecast for Moldova’s economic growth this year at 3.5%.

(1 euro =19.37 Moldovan lei)