OREANDA-NEWS. April 23, 2009. IMF is ready to support Moldova to overcome the current crisis, but the Moldavian authorities should decide what measures will be undertaken, - Johan Mathisen.

As the permanent Representative of IMF in Chisinau Johann Mathisen said at the press conference in Chisinau, Moldovan economy was seriously affected this year and will probably show growth of 5% in real terms.

Export reduced by over 20%, remittances - more than by 30% and the volume of foreign direct investment has decreased due to reduction of economic activity in the region. It is expected that during the current year further decline in domestic demand will be registered-, said Mathisen. The IMF representative said that IMF can not say for sure when it will start to restore the economy of the country.

It is expected that the regional economy will start to revive in 2010 only. In case of Moldova, speed economic recovery will depend on undertaking quick adjustment measures and consistent policy of maintaining macroeconomic stability. According to Mathisen, the government of Moldova should optimize budget expenditure, increase budget revenues by rising taxes or use combination of both methods.

In his opinion, Moldova can not afford to expand the budget deficit from contracting foreign loans, as the developed countries do. Securities market and loan resources in Moldova are limited. The only solution for the country is to attract bilateral and multilateral state financial aid-, Johann Mathisen said.