OREANDA-NEWS. October 01, 2010. According to Resident Representative of the International Monetary Fund (IMF) in Moldova Tokhir Mirzoev, though the implied budget deficit slightly exceeds the program parameter, IMF expects that additional savings emerging during budget execution will provide the observance of all fiscal indicators of the program.

Tokhir Mirzoev emphasized that Moldova’s economy was gradually recovering from the crisis. Recent indicators point to healthy economic growth in the first half of the year; budget execution has been successful; and the policy of the National Bank of Moldova has restrained inflation pressures and contributed to the stabilization in the banking sector.

Resident Representative in Moldova noted that the execution of the Fund-supported program continued. The amendments to the Law on Budget 2010 approved by the government this week stipulate the redistribution of certain expenditures articles, mainly due to recent shocks, notably from summer floods, restrictions on selected Moldavian exports to Russia, and increased energy tariffs.