Moldova's GDP growth has gathered pace in H2 2024 and will likely pick up further next year, supported by additional EU funding and growing demand in the EU, Moldova's main trading partner. We expect growth will rise to about 3.9% in both 2025 and 2026, from an estimated 3.0% y/y in 2024. But the prolonged Russia-Ukraine war, policy uncertainty in the run up to the 2025 parliamentary elections, and labour market shortages will continue to drag on growth next year.
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