In January, inflation rate fell to 27.3 percent

Chisinau, February 14 /MOLDPRES/ -This January, the inflation rate dropped to 27.3 percent. In the coming period, it will continue to decrease, with average annual inflation forecast at 13.7% in 2023 and 5.5% in 2024. The data were presented today by governor of the National Bank of Moldova (BNM) Octavian Armașu.

"Inflation reached its maximum level in October 2022, being 34.6%. Later, it went on a downward trend. At the end of the year, inflation dropped to 30.2%, and for the month of January, 2023, it dropped to 27.3%", it is indicated in the first inflation report of this year.

Regarding economic growth, the BNM governor said that it recorded a negative trend in the second quarter of last year, with the trend intensifying in the third quarter. "Preliminary figures show that in the fourth quarter of 2022 we will have a negative figure as well. This confirms that high inflation has had an effect on economic growth, consumption has decreased - that is, we also have negative economic growth. Certain categories of the population live very hard. It is absolutely imperative to relaunch the economic process and rebalance the economy", Armașu said.

According to him, in the third and fourth quarters of this year, there is every chance to return to the positive area of economic growth, if the fiscal stimulus provided for in the state budget, which refers in particular to the increase of pensions and salaries, will be implemented.

The BNM governor concluded that in the future, uncertainties remain high, especially in the situation of the continuation of the war in Ukraine, which could bring unforeseen effects on different dimensions.