Economist: Instead of importing technologies from EU, Moldova imports products and consumer goods

Economist: Instead of importing technologies from EU, Moldova imports products and consumer goods
Economist, a member of the PSRM, criticized the Balance of Payments of the Republic of Moldova for nine months of 2017, published by the National Bank. According to it, after a 3-year decline in exports, its volume (in January-September 2017) increased by 14.7%, but imports increased by 19%. Consequently, the trade balance is with a minus, and this deficit grew by 23%.

“Import of machinery and equipment increased by 25%, and for many consumer goods - by times. Only EU imports of poultry meat and eggs, as well as butter increased by 1.4 times, milk - 2.4 times, potatoes - 5.5 times, cabbage and onions - more than 2 times, grapes – 4.6 times. Are we not able to produce it ourselves?” asked Vladimir Golovatyuk.

He also noted that the huge trade deficit ($ 1.8 billion) was not compensated by the increase in revenues to the country of incomes and transfers, grants to the government and NGOs in January-September of last year decreased by 12 and 4%, respectively .

Golovatyuk also noted that the role of remittances from labor migrants in both the economy and the lives of ordinary citizens of the country could not be overestimated. During 1995-2017 they sent home about $23 billion, which made about 75% of export earnings for the entire period and allowed more than a third to pay for imports.

“Money transfers from our migrants exceeded the volume of direct foreign investments by more than 9 times, and by almost 4 times - the amount of all loans and grants received by the government and the National Bank for the entire specified period. As for ordinary citizens, remittances from abroad exceeded 85% of the wage fund throughout the national economy in 1995-2017. This support allowed our citizens to pay more than a third of all costs for payment for goods and services," said Golovatyuk.


Опубликовано: 15:43 13/01/2018

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