The Ministry of Finance of Moldova is developing a budget forecast for the medium term period 2020-2022.

The Ministry of Finance of Moldova is developing a budget forecast for the medium term period 2020-2022.

According to the financial department, under the provisions of the law on public finance and fiscal responsibility, the Ministry of Finance sent a letter to the central authorities requesting to revise / update their proposals to the state policy in the context of the development of the Budget forecast for the medium term period 2020-2022. At the same time, they were presented the peculiarities of the development and submission by the central government bodies of proposals for the budget for 2020 and estimates for 2021-2022. The deadline for submission of documents is no later than August 16, 2019. It is planned that the budget forecast for the medium term 2020-2022 will be the main document on the basis of which the budget for 2020 will be developed. The purpose of developing a budget forecast for the medium term 2020-2022 consists in providing analysis based on the macroeconomic development of the country, thus establishing the basis for budget planning for subsequent years in accordance with the strategic priorities of the government. It should be noted that earlier the Ministry of Economy and Infrastructure presented a new forecast of macroeconomic indicators for 2020-2022, according to which in 2019 Moldova's GDP will grow by 3.7%, and in the next 3 years it will grow by 3.8% annually. In accordance with the new forecast, Moldova’s GDP in 2019 will be 207.3 billion lei, in 2020 - 226.8 billion lei, in 2021 - 247.2 billion lei, and in 2022 - 269.5 billion lei. According to forecasts, in 2019 the average annual inflation rate in Moldova will be 4.9%, and at the end of the year it will reach 7.5%. In 2020, the average annual inflation rate will be 5.7%, and at the end of 2020 - 5%. In 2021 and 2022 average annual inflation in Moldova is expected to be within 5%.// 15.07.2019 — InfoMarket.

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