RECAST - Moldova Hopes To Recover From Coronavirus Crisis By End Of 2021

CHISINAU (Pakistan Point News / Sputnik - 11th April, 2020) Moldovan Prime Minister Ion Chicu said Friday he hoped the national economy would bounce back by the end of 2021 to the levels seen before the coronavirus pandemic.

"Moldova is obviously in for a big crisis. If this epidemic subsides by mid-June, allowing us to restart economic mechanisms, we will hopefully get back to normal within 12 to 18 months," he said during a video conference with Eurasian nations.

He estimated that Moldova, which receives $1.5 billion worth of private transactions from abroad every year, could lose roughly a third of its budget to the health crisis.

"Our budget income has dropped 45 percent. The problem is that a large share of our income came in transactions from our expats. Our national budget is $3.5 billion worth, so the cut will be deep," Chicu said.

The Moldovan government plans to manage the crisis by attracting foreign investment and shielding trade from the impact of coronavirus restrictions.

Moldova went into a 60-day lockdown on March 17 in an effort to stem the spread of the disease, shutting borders, nonessential businesses, schools and universities, and canceling public events. It has so far reported 1,438 infection cases, including 29 deaths.