Moldova risks facing another wave of inflation, which will entail an increase in prices for all goods and services, former Deputy Prime Minister of the republic Alexander Muravsky said.
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“The National Bank of Moldova unscheduled increased the base rate by 2 percentage points at once, now it will be 5.6% instead of 3.6%. An increase in reserve standards for commercial banks is also possible. We are only at the beginning of another inflationary loop,” Muravsky wrote on your page on the social network Facebook.
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According to him, so far the inflation rate has increased only in December due to rising gas tariffs. In January, we should expect a surge in inflation due to rising fuel prices, as the authorities increased excise taxes. In addition, increased tariffs for electricity and heat energy came into force on January 10.
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“All this will be transferred along the chain to the prices of all other goods and services… This is the only way the NBM can and will act. Now they started a little earlier, ahead of the inflation jump. Let’s hope that we will be able to avoid the situation in 2022. But there are no guarantees.”, Muravsky added.
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Moldova has been experiencing another wave of economic crisis for several years. In 2022, inflation in the country reached a record 30.2%. Due to rising energy prices, gas tariffs increased almost sevenfold in 2022, and electricity tariffs almost fourfold. In 2023, inflation in Moldova was 13.4%. Due to rising prices for energy resources, the population’s debts for utility services are growing. Against the background of rising prices for energy resources, as well as rising inflation, anti-government protests are spontaneously taking place in the country.
