Reports MOLDOVA - MARKET REPORT
Te government has pushed to restore stability and improve banking and fiscal competence and it has made moves towards energy independence from Russia. A new gas pipeline running over 120km from Iasi in Romania to Chisinau will link Moldova to the EU energy system and reduce its dependency on Russia. Previously, the country imported almost all its energy supplies from Russia, or the Ukraine and gas delivered by Russian giant Gazprom was responsible for 99 per cent of the gas used in the country.
problems which the government later converted into public debt to be paid for over the next 25 years.
Meanwhile the negative effect of the pandemic and turbulent politics has also had a big impact on this little country and could see further migration as people flee to find work.
Moldova’s economy shrank by seven per cent in 2020 due to the Coronavirus crisis, although predictions show the country is expecting to emerge from its recession with a growth rate of six per cent this year
Once a province of the Russian empire, Moldova gained independence in 1991. Growth, however, is still today hampered by corruption, political uncertainty, and a weak administration. Tere is little to attract foreign investment and migration is leading to a drop in the young population.
Te government has pushed to restore stability and improve banking and fiscal competence and it has made moves towards energy independence from Russia. A new gas pipeline running over 120km from Iasi in Romania to Chisinau will link Moldova to the EU energy system and reduce its dependency on Russia. Previously the country imported almost all its energy supplies from Russia or the Ukraine and gas delivered by Russian giant Gazprom was responsible for 99 per cent of the gas used in the country. Gas delivery played an important role in political decisions.
Moldova instigated early parliamentary elections during the summer after President Maia Sandu dissolved parliament in April after the Constitutional Court ruled the state of emergency voted by parliament was unconstitutional.
After years of communist rule there was a return to parliamentary elections in 2009 and since this time the country has been run by a series of pro-European ruling coalitions.
P146 WIRE / PULSE / INSIGHT / REPORTS
Former PM Maia Sandu beat pro-Russian President Igor Dodon’s attempt to win a re- election in November last year, whilst Foreign Minister Aureliu Ciocoi took over as Acting Prime Minister in January 2021 when Prime Minister Ion Chicu resigned after the election of Sandu.
She became Moldova’s first woman President and ran her campaign focused on addressing
corruption and strengthening ties with Europe, gaining the votes of 93 per cent of Moldovans who are living abroad.
Moldova is made up of 32 raions and three municipalities (Balti, Bender, Chisinau), one autonomous territorial unit (Gagauzia) and one territorial unit (Transnistria).
Transnistria broke away from Moldova over 30
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