Moldova Economic Outlook
November 3, 2020
Recent figures point to recovering activity hitting a roadblock in Q3, after output plunged in Q2 as the Covid-19 fallout pummeled domestic demand and exports. Although the pace of contraction in industrial production eased from April’s nadir through July, it grew more severe in August as manufacturing activity, particularly in food processing, shrank markedly. Similarly, July’s rebound in retail sales was short-lived as they slumped back again in August, which, coupled with even slower bank lending in Q3 than in Q2, hints at demand struggling to gain traction. Lastly, the key agricultural sector, which accounts for about a tenth of output and a third of employment, languished in Q3 as crop production declined even more heavily than in Q2.Moldova Economic Growth
The economy is poised to suffer its deepest downturn in over a decade this year owing to the impact of the pandemic, before growth returns in 2021 on the back of gradually recovering activity. Still-rising Covid-19 cases, which could prompt the reinstatement of restrictions, and the country’s chronic external imbalances cloud the outlook. FocusEconomics panelists see GDP growing 4.4% in 2021, which is up 0.3 percentage points from last month’s forecast, and 4.3% in 2022.Moldova Economy Data
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Moldova Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 17.15 | 0.03 % | Jan 01 |
| Stock Market | 0.1 | 0.0 % | Jan 07 |
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