Deputy Prime Minister: Gross Domestic Product increased by 2.4% in second quarter of year

Chisinau, Sep 27 /MOLDPRES/- Gross Domestic Product increased by 2.4% in the second quarter of 2024 compared to the same period last year. Deputy Prime Minister, Minister of Economic Development and Digitalization Dumitru Alaiba made the statement today.

"In the second quarter of 2024, GDP increased by 2.4% compared to the same period last year, speeding up compared to the first quarter (+1.9%). We accelerated by another 0.5%," he said.

According to the official, growth was boosted by positive developments in several sectors, including financial activities and insurance (+11.9%), domestic trade (+7.2%), information and communications (+5.8%), construction (+5.6%) and agriculture (+3%).

Growth was also generated by the recovery in private consumption, which rose by 3.7%, and investment, which increased by 6.9%.

"Our long-term objective is to build an investment-driven economy, to get rid of the current model, and this will not happen overnight," he said.

Over the same period, private investment (i.e. investment by companies) grew by almost 14%. A good proportion of companies chose to invest in equipment and machinery, which suggests, according to the minister, "that we should see growth in industry in the future".

GDP (gross domestic product) is the main indicator measuring an economy and reflects the sum of the market value of all goods and services for final consumption produced in all branches of the economy within a country during a year.