Republic of Moldova: Staff Report for the 2006 Article IV Consultation and Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility

Author: International Monetary Fund

Volume/Issue: Volume 2006 Issue 184

Publication date: May 2006

ISBN: 9781451825077

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Topics covered in this book

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Banks and Banking , Exports and Imports , Inflation , Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , deficit , NBM law , authority , GDP , Moldova , European Union-Moldova action plan , Moldova's request , staff appraisal , reform agenda , Energy pricing , Europe , Global , Western Europe , Central and Eastern Europe

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Summary

This paper discusses the 2006 Article IV Consultation for Moldova and Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility. The economic growth of Moldova has continued to be robust, although the drivers of growth—household consumption and construction—remain heavily dependent on inflows of remittances, as well as strong wage growth. Real GDP growth in 2005 was more than 7 percent, as it has been since early in the decade. Inflation has gradually abated. The trade balance deteriorated significantly in 2005, owing in large part to the impact of higher energy prices.