In five years, the Pridnestrovian GDP grew by 10 per cent in dollar terms

12/14/21 11:09

In five years, the Pridnestrovian GDP grew by 10 per cent in dollar terms

Alexander Martynov summed up results of the PMR Government working

Tiraspol, December 14 /Novosti Pridnestrovya/. The PMR gross domestic product over five years has grown in nominal terms by one and a half times. However, taking into account the national currency devaluation in 2017 and fluctuations in the exchange rate in dollar terms, the gross domestic product’s growth was about 10 percent. This was announced by the PMR Prime Minister Alexander Martynov, summing up the results of the Government’s working for five years.

“This’s important since for two years out of five years we have been living in a crisis that was provoked by COVID-19,” Alexander Martynov stressed.

Over the past five years, the Government, and the PMR union of industrialists, agrarians, entrepreneurs as well as agricultural enterprises heads managed to balance the tax burden despite every difficulty with public finances. It was remaining within 27-29 percent of GDP.

The same applies to gas tariffs. Despite all the fluctuations in external markets, the Government tried to keep the tariff policy within acceptable limits in a way that, on the one hand, enterprises could develop, but on the other one, Pridnestrovie could receive the necessary resources to finance the budget deficit.

The enterprises' concessional lending program in the real economy sector over the past years period has become a driver of investment in the republic. Alexander Martynov thanked the PMR Central Bank heads, commercial banks, the State Reserve Fund, and its Supervisory Board members, who were able to ensure the operation of this demanded mechanism.

For the first time, agriculture supporting tools were introduced, including subsidies for each milk gallon, subsidies for the large cattle livestock as well as preferential tariff for irrigation water. By the way, most concessional loans are used for irrigation development.

“In my opinion (I think that colleagues from the Agriculture and Natural Resources Ministry stand in solidarity with him), the using such measures, which we developed together with the union of industrialists, agrarians, entrepreneurs as well as industrial and agricultural enterprises allowed them to move forward in terms of food security in the republic as well as import substitution,” Alexander Martynov noted.

According to him, it can be seen in terms of milk and meat production as well as yield capacity growing as a result of land reclamation.”


Также в рубрике

03/29/24 14:07
The Ministry of Finance summed up the results of the department’s activities in 2023. The meeting was held via video conference. The PMR President Vadim Krasnoselsky took part in the work. The reporting information was announced by Alena Ruskevich, the Minister of Finance.
03/26/24 19:20
Due to the blockade steps of Moldova, Pridnestrovie may lose up to $100 million this year
02/27/24 12:11
The corresponding changes to the republican budget were adopted in the second reading