Economic

Moldova's Inflation to Remain Within Target Range in 2023

Anca Dragu, the governor of the National Bank of Moldova (NBM), announced that inflation will fluctuate within the target range of 5% this year.

She presented the first inflation report during a press conference.

Consumer prices in January 2023 increased by 4.6% compared to the same period last year. According to the governor, the current inflation forecast has been revised slightly compared to the previous report.

Dragu previously stated that the NBM's main objective is to keep price growth under control. She outlined the following steps that the central bank will take to promote economic growth, create a more competitive private sector, and increase financial sector stability in the context of Moldova's accession to the European Union.

The highest inflation rate of 34.6% was recorded in October 2022, after which a downward trend was observed.

Translation by Iurie Tataru

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