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Economic Policies on July 12–25, 2004
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e-journal #35 |
Moldova in the world
Foreign competition
One year was enough for the Republic of Moldova to loose five points in the UN human development index, and go down from 108 place in 2003 to 113 in 2004, stated Eric Brunat economist expert of the UN during a press conference held in Chisinau last week.
As regards other countries of the CIS, better-off are Azerbaijan (91), Georgia (97), Uzbekistan (107), Kyrgyzstan (110), while Tajikistan worse-off (116).
Experts say Moldova’s rating dropped largely due to the changes in methodology of calculating GDP against purchasing power in 2002. To compare the living standards in different countries, GDP should be related to purchasing power, which eliminates the differences in the national price levels.
The results are not so encouraging for Moldova. According to last year economic development we have been far more competitive as regards growth potential than Indonesia, Venezuela, Turkey, Guatemala, Nigeria, Paraguay, Ecuador, Bangladesh, Nicaragua, Honduras, Zimbabwe and Haiti. At the same time, we are lagging behind all European countries, some Latin America, Africa and Asia, which despite economic crisis managed to stay on good positions, i.e. Argentina, Brazil, Uruguay or Trinidad-Tobago.
Ludmila Tiganu, Mass-media Coordinator at the UNDP office in Moldova mentioned that other main indicators like life expectancy, level of enrolment in schools remain steady. The report is prepared on a yearly basis based on such indicators as income of the population, life expectancy and schooling level. This year report includes 175 UN members States.
Hard times for gas supply debtors
Republic of Moldova requested Russian Federation to restructure the historic debts on the gas supplied by “Gazprom”, communicated Andrei Stratan, Minister of Foreign Affairs after returning from his official visit to Moscow. “Republic of Moldova hopes to get its debt incurred during the last 10 years restructured, since the last year’s debts were fully paid” stated Minister Stratan.
According to Russian press citing data from “Gazprom”, as of May 1, 2004 Republic of Moldova’s debt on gas, including penalties, amounted to 1.2 billion USD. Last year Transdnistria’s debt (including penalties) amounted to 305.2 million USD. Total debt of Transdnistria for gas is currently estimated at 961.2 million USD.
Recently, Chisinau redeemed at a price of 50.135 million USD bills worth of 114.5 million USD issued in 2000 to “Gazprom” in the account of a portion of debts incurred in 1996 and 1997. To redeem the bills, National Bank granted a credit to the Government worth 50 million USD (around 600 million Lei) for a five year period.
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