Macroeconomic Forecast Moldova

BMI View: The Moldovan leu continues its appreciation trajectory, reaching a more than two-year high of MDL12.1050/US$ on June 29. Nominal gains are being driven by increased investment by the EBRD and EIB as well as recovering growth following the resumption of wine exports to Russia. We see further gains ahead for the leu, with a medium-term target of MDL11.6000/US$.

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