At the beginning of the year the World Bank released its report on Global Economic Prospects forecasting a modest 2.5 percent global economic growth in 2020, ahead of a potential trade war between the United States and China.

According to the World Bank’s report, Moldova’s economic growth for 2020 will be 3.6 percent and 3.8 percent in 2021 and 2022.

Moldova’s economy and its development will be strongly interlinked with the economic situation in the European Union (E.U.), Russia and Turkey which are the main trading partners.

According to the same report Moldova is among the countries with major problems in the educational system and professionals in the economic field.

At the same time, the state’s presence in Moldova’s economy remains large accounting for one-third of the country’s GDP.

In Ukraine, firms with at least partial state presence account for roughly 20 percent of total turnover by firms and over 25 percent of firms’ assets.

In Eastern Europe and Central Asia, and to some extent Russia, the state’s presence in the economy remains large, with state ownership accounting for more than 10 percent […]

Restructuring or privatizing state-owned enterprises therefore still presents an opportunity to raise economy-wide productivity in several countries across the region, if it is accompanied by effective regulation and improvements in management, corporate governance, and the business environment.

Read the whole report here.