MEGA - Moldova Economic Growth Analysis, no.1, 2009

Publishing date: Friday, 15 May 2009
Views: 15160

MEGA has the purpose to explain the economic evolutions in Moldova, to update economic policy analysis and to provide policy recommendations for advancing country’s economic development.  The first issue of the MEGA is dedicated to a review of the megatrends that have shaped Moldovan economy since its independence. It covers 15 distinct areas which basically represent core parts and sectors of any economy. Economic recovery in Moldova in 2000 has generated new opportunities as well as new challenges for the Moldovan government, private companies and  citizens. The economic growth has been mainly supported by migrants’ remittances that have kept the country afloat. However, as consumption-led economic growth has reached its limits, the economic policymakers have to ensure the transition of the economy from the economic growth model based on migrants’ remittances towards an investment-based and innovation-based growth model. Because of the international financial crisis, this transition is unlikely to be smooth, but still it is necessary to be pursued. Changing the economic growth model requires the accountability, efficiency and anticipatory capacity of the Government to increase correspondingly. If the Government achieves better policy performance, this will encourage domestic and international investors to channel more capital in the reviving Moldovan economy and will consolidate the public confidence in economic policy. However, for the economic policy to respond to the changing needs of the producers and consumers and to the new challenges of the globalization it has to be constantly monitored and assessed and whenever necessary updated.

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