„Republic of Moldova needs substantial financial support to address rising poverty risks”. Public appeal to the international community ahead of the donors’ conference in Bucharest
The Republic of Moldova is facing a perfect storm composed of rising energy and food prices, high inflationary expectations ahead of the winter season when gas prices reach maximum highs, war at the border that skyrocketed logistic costs, disrupted value-chains and induced huge uncertainty among firms, households and the government, along with draught and stagnation or even recession for this year. On the background of this difficult environment, the country received a clear European perspective in the form of EU candidate status as a sign of support and credit of trust from the European Union for a series of important reform commitments of the government that are yet to be delivered in such areas as justice, fight against corruption, public administration, state-owned enterprises, and macro-financial stability. Moldova also received important financial assistance from the IMF, EU, and other development partners and, as a result, the massive deficit of about 1 billion EUR planned for 2022 will be financed exclusively from external financial support.