The World Bank revised the forecast for the Republic of Moldova in 2018. Thus, according to new estimates of the Global Economic Outlook, the Gross Domestic Product grew 4.8% last year, a percentage point higher than the previous forecast.
At the same time, World Bank experts are more optimistic about the prospects of our country's economy in 2019.
According to new forecasts, this year's growth will be 3.8%, compared with the 3.7% estimate made in the summer of last year. Earlier, World Bank analysts have explained that this growth will be supported by consumption policies and stimulus fiscal policy. Thus, in 2018, higher GDP growth was possible due to increased public investment, but also to transfers from Moldovans working abroad, in the context of improving the situation in the financial sector and improving the business climate.
Also among the risks highlighted by experts are a possible slowdown in economic growth in the countries that are Moldova's main trading partners.
The World Bank report also shows that Moldova's pace of economic progress will be moderate in the coming years. Experts expect the advance to be 3.8 percent in 2019, and in 2020 the economy will grow by 3.5 percent.
At the end of last year, Prime Minister Pavel Filip announced that Moldova has registered a steady economic growth over the last three years and this has allowed the increase of social allowances, but also the successful implementation of the reform of the wage system.