There are favourable conditions for the arrival of significant investments in the Republic of Moldova, provided that the banking system remains sustainable and resilient, and economic policies align with the needs of investors. These statements were made today by Anca Dragu, the Governor of the National Bank of Moldova, during the Economic Forum held in Chisinau under the auspices of the Romanian Royal Family.
Anca Dragu noted that the NBM has achieved its primary objective, bringing inflation back to the 5 percent target, which has allowed the central bank to reduce base interest rates: “The rate decrease is a signal to the market that things are moving in the right direction. We expect inflation to remain on target throughout the year”, said the NBM Governor.
The head of the central bank in Chisinau also referred to the need to enhance financial intermediation, through dialogue between banks and business, leading to increased demand in the Moldovan lending market: “When inflation was over 30%, financial intermediation had to suffer. Now that inflation is within the corridor, with a monetary policy rate of 4.25 percent, the cost of credit becomes one that a company can afford”, added Anca Dragu.
Regarding the measures taken by the NBM to facilitate economic activity, Anca Dragu mentioned the submission of the file for Moldova's accession to the Single Euro Payments Area (SEPA) and the upcoming launch of the Instant Payments platform, both of which having the potential to enhance economic activity, said the Governor. “The NBM is actively contributing to the digitalisation of financial services and promoting the opportunities offered by financial technologies, FinTech, for the development of the payment infrastructure. In the near future, the Instant Payments system will be launched in Moldova, allowing payments to be made in real time and non-stop” said Anca Dragu.
An initiative of the Romanian Royal Family, the Economic Forum is taking place for the second year in Chisinau, bringing together governmental and parliamentary officials from Bucharest and Chisinau, experts, public figures, and representatives of the business environment of Romania and the Republic of Moldova, Italy, Poland, Germany, and other countries. This year discussions centre on “Investments. Innovation. European Integration” providing participants with examples and suggestions for sustainable economic growth and the rapid advancement of the Republic of Moldova on the European path.
