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The executive board of the IMF concluded the fourth review under the Extended Credit Facility and Extended Fund Facility (ECF/EFF) arrangements for Moldova on December 7, allowing for the immediate disbursement of about $95mn (SDR71mn), usable for budget support.
The board also approved a new arrangement under the Resilience and Sustainability Facility (RSF) of about $173mn (SDR129mn). The new scheme will support Moldova’s efforts to strengthen resilience against climate shocks, support energy sector reforms, enhance domestic financial sector preparedness, and mobilise sustainable finance.
2.7.2 Industrial production
The industrial production index picked up by 3.0% q/q (seasonally adjusted terms) and its annual decrease moderated to 0.7% y/y in Q3, Moldova’s statistics bureau announced.
But the overall performance remains sluggish, marking more than two years of decline that brought Moldova’s industrial activity back to the levels seen in 2017. The pockets of growth are few, but notably driven by local investors in the sectors of metallurgy and pharmaceuticals.
The industrial output in the 12-month period to September 2023 contracted by 7.3% y/y, compared to a more moderate 3.1% y/y contraction in 2022.
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