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Thursday, 22 March 2007 00:00

Business and Economy Review, no. 17

In January became publicly accessible the final data on foreign trade in 2006. The trade deficit reached the level of 1.6 billion USD, slightly higher that was estimated in Business and Economy Review no.16. For the first time in the last nine years, the galloping deficit growth stems not only from the rapid expansion of imports, but also from the exports’ compression. The growth of the weight of exports to the European Union is welcomed (35% relative to 29.7% in 2005), but not the absolute loss of positions on eastern markets. In 2007 the weight of exports to EU will exceed 52-54%, as a result of Romania’s and Bulgaria’s joining the EU. Speaking of the perspectives of Moldovan wines returning on the Russian market, they remain far away. The re-launching of the exports of animal and vegetal products to Russia inspires optimism, but a significant relief for the economy will come forth when the majority of the companies will be able to export.

During 2001-2005 the Moldovan economy grew about 7 percent annually. This tendency has fuelled the illusion that Moldova is on the highroad. In fact, the rapid expansion of consumption and imports and the increase of economic imbalances determined rather an overheating of the economic system than an increase of its production capacity. The economic growth was restricted to large urban areas, while the small towns and villages languished. The growth was capital-intensive, but went along with the jobs shedding and amplification of migration. External markets remained undiversified and the exports – limited to a narrow range of products.

Tuesday, 16 January 2007 00:00

Business and Economy Review, no. 15

New statistical data confirm the cooling down of the Moldovan economy. In the third quarter, the GDP grew only 3.9 percent year-on-year. The more modest growth is due to the recession taking place in industrial and agricultural sectors. Abolishment of the Russia's embargo cannot alter the negative dynamics of agriculture and industry in 2006 and first quarter of 2007. At the same time, the more robust services' sector compensates to certain extent the recession in the industrial and agricultural sectors. Private consumptions remains strong, supported by income derived from wages, entrepreneurship and, most importantly, migrants' remittances. The latter has registered a breath-tanking 23 percent growth in the firts nine months of 2006. However, not all sector evolved well. On the background of rapidly growing constructions and telecommunications' sectors, the evolution of the transportation sector looks quite bleak. Strong consumption ensure high budgetary income. However, the planned budgetary current and capital expenditures were financed only in proportion of 87 and, accordingly, 68 percent. This underfinancing is particularly risky for the areas of agriculture and energy which are entirely dependent on the budgetary financing.

This document is available only in Romanian.

Sunday, 10 December 2006 00:00

Business and Economy Review, no. 14

During October-November 2006 the Moldovan economy did not display any notable progress. On the whole, the industry continues to recess. The two important branches where the negative dynamics have reversed are the sugar and pastry industry. A 4 percent decrease of the agricultural production for the first nine months has been witnessed by October. The services continued their perky growth, mostly due to telecommunications and electric appliances sales. The services rendered to enterprises increased slower, particularly because of the difficulties reported in the transportation sector.

Sunday, 05 November 2006 00:00

Business and Economy Review, no. 13

During October-November 2006 the Moldovan economy did not display any notable progress. On the whole, the industry continues to recess. The two important branches where the negative dynamics have reversed are the sugar and pastry industry. A 4 percent decrease of the agricultural production for the first nine months has been witnessed by October. The services continued their perky growth, mostly due to telecommunications and electric appliances sales. The services rendered to enterprises increased slower, particularly because of the difficulties reported in the transportation sector.

Sunday, 15 January 2006 00:00

Business and Economy Review, no.10

In a new format, the edition no.10 of the Business and Economy Review reviews the recent data and statistics on economic development in 2005. Analysis coveres the manufacture sector, services, public budget, financial and external sector.

This document is available only in Romanian.

Wednesday, 05 October 2005 00:00

Business and Economy Review, no. 9

In Auguts this year we have witnessed bitter discussions between the Government and those affected by a Governmental decision of prohibiting import of second-hand goods. Even though, following the public pressures, the Government adopted a moratorium on the decision, this problem has only been postponed rather than solved. In September, the quality of the business climate became a subject of contentious discussions again, with Government and representatives of the private sector accusing each other. Effects of the rhetoric on the real situation is far from clear. In the 9th edition of the Business and Economy Review we study these and other economic evolutions marking the period August-September 2005.

This document is available only in Romanian.

Monday, 05 September 2005 00:00

Business and Economy Review, no. 7-8

The real sector in July-August 2005 featured an accelerated industrial growth, mainly on the account of rapidly expanding wine-making industry. In the agricultural sector, a much higher harvest of cereals will lead to a bigger contribution of the sector to the GDP growth in second and third quarters, but also smaller prices for the producers. The more intense economic growth is indirectly proven by growing consumption of electricity, even though a certain part of this growth may be attributed to the unofficial activities. The constructions sector continued to grow rapidly, particularly in the urban areas.

This document is available only in Romanian.

Tuesday, 05 July 2005 00:00

Business and Economy Review, no. 5-6

This edition of the Busines and Economy Review analyzes the main economic and policy developments in the period May-June 2005. Inter alia, we are assessing the new initiatives of business regulation reform.

This docuemnt is available only in Romanian.

Thursday, 05 May 2005 00:00

Business and Economy Review, no. 4

As shown in this edition of the Business and Economy Review, in January-March this year the macroeconomic policy stance has been adequate for maintaining the short-term macroeconomic stability; however, the long-term impact of some fiscal policy decisions is yet to be seen. We mean, first of all, the decision of providing important fiscal exemptions which will deprive the budget of several million of dollars. The budgetary revenue continued growing, while the Central Bank managed to avert speculative attacks on the national currency.

This document is available only in Romanian.

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