OREANDA-NEWS. October 02, 2009. This was announced by the Vice-Premier, the Minister of Economy of Moldova Valerie Lazar at the press conference "Results of the primary diagnosis of the national economic and financial situation. The position of the donor community”.

According to him, the first signs of economic decline have appeared in July 2008 and reduction in the most important macroeconomic indicators - in September 2008. While in the other countries the anti-crisis programs, consisting of the two main elements: fiscal stabilization and actions on stimulation of the economy, including promotion of the capital investment, support of capitalization of the companies were developed, this was not done in Moldova.

Valerie Lazar said that if Europe is already showing the signs of recovery, Moldova will have difficulties in overcoming crisis due to deceleration of the structural reforms, restrictions in business, introduction of social policies that exceed the real capacity of the budget, accumulated unsolved problems in the energy sector, growth of the foreign debt caused by the fact that the only source of financing the budget deficit were the government securities.

According to the revised macroeconomic indicators, the reduction in GDP will make 8% and not 5% as it was predicted by the previous Government. The Minister of Economy stressed that for recovery of the economy it is necessary to develop an anti-crisis program with participation of all parties, eliminate restrictions in business, improve efficiency of the budgetary funds, attract external support for introduction of mechanisms to revive the national economy, promote structural reforms in order to create competitive and stable economy. Valerie Lazar said that during the week the new government will submit a full diagnostics of the national financial-economic situation.