On 10 October, the European Commission adopted a Growth Plan for the Republic of Moldova worth €1.8 billion and underpinned by a Reform and Growth Facility for the period 2025-2027.
The Plan, which is the largest EU financial support package since Moldova’s independence, will boost Moldova’s economy, bring the country closer to EU membership by accelerating reforms, and provide significant financial assistance.
The Moldova Growth Plan is based on three pillars, aimed at increasing financial assistance over the next three years through a dedicated Reform and Growth Facility for Moldova, enhancing access to the European Union’s single market, and supporting Moldova’s socio-economic and fundamental reforms.
The European Commission President Ursula von der Leyen, who came to Moldova to announce the package, said the EU could start bringing the Moldovan economy closer to the EU already now.
“Today I’m in Chișinău to present a support package with the potential of doubling the size of the country’s economy in a decade. To do so we invest in jobs, growth, services and infrastructure – from new hospitals in Balti and Cahul to the road from the capital to Odesa. We open the doors to our Single Market to Moldovan companies. And we support Moldova’s reform efforts,” von der Leyen said.
The EU-approved Economic Growth Plan is intended to have a significant long-term impact on the Moldovan economy and society. According to the estimates, the economy of Moldova could double in size in the next ten years, generating a substantial increase in the standard of living.
The average salary in the economy, which is currently around 13,500 lei, could reach 27,000 lei by the end of the decade, thanks to reforms and strategic investments.
At the same time, it is expected that up to 100,000 new jobs will be created, and over 25,000 SMEs will directly benefit from financial support. These investments will also ensure the completion of some major infrastructure projects, such as the new hospitals in Cahul and Balti, and will improve the transport infrastructure.
It is now for the European Parliament and the Council to examine the European Commission proposal for the Growth Facility for Moldova. Once adopted, Moldova will be invited to submit its Reform Agenda outlining the key socio-economic and fundamental reforms it intends to undertake to accelerate growth and convergence with the EU.
