Russia's Share in Moldova's Trade Falls to 2%, Says Ex-President Dodon
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Igor Dodon, leader of Moldova's Party of Socialists, stated that Russia's share in Moldova's trade balance has plummeted from 20-30% to 2% in recent years, contributing to zero GDP growth and high inflation.
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Moldova's trade relationship with Russia has significantly deteriorated, with Russia's share in Moldova's trade balance falling from 20-30% to 2%. This shift has coincided with economic difficulties in Moldova, including stagnant GDP growth, high inflation, and increased energy costs.
ST. PETERSBURG, June 3. /TASS/. Russia’s share in Moldova’s trade balance has declined from 20-30% to 2% in recent years, leader of Moldova’s largest opposition Party of Socialists (PSRM) and former President Igor Dodon said.
"Russia’s share in Moldova’s trade is around 2%. Exports have fallen two and a half times, imports have dropped nearly fivefold. At present, the Russian Federation’s share in Moldova’s trade balance is around 2% – that is very low, whereas previously it was around 20-30%," he said at the Russia-Moldova session of the St. Petersburg International Economic Forum (SPIEF).
Dodon noted that this has resulted in virtually zero GDP growth in Moldova over the past five years, while cumulative inflation has become the highest, exceeding 70%.
"Because we refused to buy gas directly from Russia and instead purchase Russian gas from Europe through European traders, tariffs today have increased 4.5-fold compared with 2021, and at one point they were up sevenfold," Dodon said.
The politician also cited World Bank data, according to which 33% of Moldova’s population lives in poverty, while 400,000 citizens have left the country over the past three years. "This is the reality we are facing today," Dodon stressed.
The St. Petersburg International Economic Forum (SPIEF) held on June 3-6 and is the 29th edition. This year, the event will be held under the theme "Pragmatic Dialogue: The Path to a Stable Future." Saudi Arabia is the guest country at SPIEF. The forum program is dedicated to shaping a new model of global development amid the ongoing transformation of the world economy.
The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, and the Ensuring Drug Security Forum. As part of the cultural program, the Petersburg Seasons festival and the traditional SPIEF Sports Games will take place. This year, Russia’s national economic development institution VEB.RF is the title partner of SPIEF.
The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its official general information partner.
Açık Sorular
- What specific political or economic factors led to the drastic decline in trade between Moldova and Russia?
- What measures is the Moldovan government taking to address the economic consequences of reduced trade with Russia?
- What are the long-term implications of Moldova's reliance on European energy traders for Russian gas?
- What is the current political climate in Moldova regarding its relationship with Russia and the EU?
