Pavel Filip about expected crisis: We must stimulate domestic production

The leader of the Democratic Party of Moldova, Pavel Filip, ex-Prime Minister, said the authorities should stop all the investment projects and all the financial resources should be aimed at ensuring incomes for people and at supporting the business community, small and medium-sized enterprises, IPN reports.

According to Pavel Filip, the country’s administration should think about subsequent measures as the unemployment rate will rise and the financial flows and remittances will decline and the pace of growth all over the world will considerably slow down.

“The colleagues from the Ministry of Economy already set up a working group. There are three main elements: the National Bank, the Ministry of Economy and the Ministry of Finance, which are considering the post-crisis measures that should be taken today. This crisis for the Republic of Moldova can be regarded as an opportunity. After this crisis, many of the countries will start everything from zero. The things that usually move on slowly can develop very swiftly during a period of crisis,” Pavel Filip stated in the talk show “Fourth Power” on N4 TV channel

The ex-Premier noted that after the COVID-19 pandemic that will generate an economic crisis is overcome, the countries will isolate themselves and the Republic of Moldova should take measures to stimulate internal production and maintain the export rate.

“These post-crisis measures should be regarded from the angle of macroeconomics and monetary policies, not separately. As we saw, the National Bank acts appropriately and the Government is making effort to adjust itself to the monetary policy. The Republic of Moldova has all the chances of coping with the crisis. As to the macroeconomic measures, I think the countries will isolate themselves after the crisis. Our citizens have returned home and we must take measures to stimulate domestic production so as not to allow the unemployment rate to rise. We must do our best to keep exports at a particular level and must surely stimulate the areas that will bring jobs, areas of the future, the IT sector,” said Pavel Filip.

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