Prime Minister: Moldova's Growth Plan, focused on reforms and investments, to lead to economic development, higher salaries, better quality of life

The government approved today the Reform Agenda, which underpins Moldova's Growth Plan for 2025-2027 and will provide access to financial support of 1.9 billion euros from the European Union. Prime Minister Dorin Recean said that the Growth Plan includes two components: the reform agenda and investments, which will lead to a robust economy, higher salaries and a better quality of life.

Dorin Recean mentioned that through the projects that are to be implemented, we will prepare for accession to the European Union and prepare institutions and the business environment to absorb pre-accession funds. At the same time, the reforms and investments made will lead to an annual economic growth of at least 5 percent.


'The EU has granted us a financial package of 1.9 billion euros for us to develop and build our lives here at home, according to European standards. Citizens do not want to wait any longer. Our citizens want to live like in Europe today, which is why it's necessary to mobilize financial resources to invest them wisely,' Recean said.


According to the prime minister, the significant and unprecedented financial resources are offered to Moldova due to the advancement and progress in the EU accession negotiation process.

Dorin Recean explained that Moldova's Growth Plan for 2025-2027 includes two components: the reform agenda and investments.

The reform agenda is focused on seven pillars: business development, stimulation of strategic industries including agriculture, modernization of transport and digital infrastructure, modernization of tax administration and increased transparency in the use of public funds, improvement of education, healthcare, and social services, transition to renewable energy and environmental protection, energy security and efficiency.

The second component of the Growth Plan is investments for developing the national economy. The prime minister provided some examples of specific projects to be implemented. These include the rehabilitation of at least 30 km of road on route M5, construction of Bălți regional hospital, implementation of the afforestation program, and support for farmers through the development and rehabilitation of centralized irrigation systems.

The financial assistance package of 1.9 billion euros granted by the EU includes two parts: the first part worth 400 million euros is free financial assistance from the EU and member states. The other part of 1.5 billion is a loan granted under advantageous conditions.


'This loan is granted for a term of 40 years, we have a grace period of 10 years, and the interest rates on this loan are very low: they range between 0.1% and just over 3%. These are extremely advantageous conditions for us to be able to finance our economic development plan,' said the prime minister.


 


'Citizens need and will know how this money is spent and invested. It depends on us how we contribute to our own development in the coming years. The EU has offered this generous assistance, and our task is to work together diligently to achieve our country's goal - to build our good life here at home,' he said.


The Reform Agenda related to Moldova's Growth Plan for 2025-2027 includes 56 reforms and 153 concrete measures, aimed at accelerating the EU accession process, increasing economic competitiveness, and improving the quality of life for citizens.