Post-COVID-19 crisis: what will the Moldovan economy look like?

Print
Publishing date: Thursday, 01 April 2021
Views: 709

COVID-19 left a rather deep footprint on the Moldovan economy, although the 7% GDP reduction suffered in 2020 was partly due to the impact of the drought. The vulnerability of the Moldovan economy to such complex and intertwined crises is one of the most important lessons to be drawn from the economic year 2020.

 

To some extent, this double source of fiscal vulnerability may explain the modest response from the part of government to COVID-19. However, the lack of vision of the Moldovan policymakers left the society and economy bearing the full brunt of the crisis, with potentially damaging political consequences for the future.

The crisis revealed how timely the purge of the banking sector has been and how important it is to consolidate its progress. In the short-term, Moldovan companies will continue responding to the crisis by adopting new technologies and new modes of using labor, whereas consumers are likely to become a bit more frugal, at least for some time. In the longer-run, structural responses are necessary to enhance the resilience of the economy, including a policy for rebuilding domestic industrial capabilities, the creation of more solid budgetary reserves and development of capacities for evidence-based policy, from design to impact evaluation.

Download the policy brief

This article is published in the framework of the 3DCFTAs Project

Tags: Natalia Chitii

test

Website: test
Print

Access the monitoring application

app6
apl1 en
aplicat6en
app7
apl2 en
aplicat71en
app8
apl3 en
aplicat8en

Projects

scoala en

lapunct en

budget en

You use the ADS Blocker component.
We do not use advertising elements, we only present our own products or donors that promote some projects. Some features may be blocked, please disable the ADS Blocker component.
Thanks for understanding!

Resetează

Cursor:

Contrast:

Dimensiune Font:

Alb/Negru:

Referințe:

Imagine: