Citing growing concerns among citizens over the declining standard of living, the country’s rising level of indebtedness, the budget deficit, the continued increase in prices for essential goods and services, economic and demographic migration, as well as the lack of clear development prospects, the European Social Democratic Party (PSDE) has proposed a set of priority measures to revive and develop the economy of the Republic of Moldova, TRIBUNA reports.

PSDE President Vasile Bumacov said that the Republic of Moldova needs a coherent, realistic and predictable economic plan based on clear, measurable objectives and specific implementation deadlines. Priorities should target the strategic sectors of the economy: agriculture, industry, energy, infrastructure, the development of small and medium-sized enterprises, as well as the creation of new jobs. The economic plan should include transparent financing, monitoring and evaluation mechanisms so that results can be measured and responsibility for achieving the objectives clearly assigned.

He also said that at a time when the cost of living is rising, the state must give priority attention to pensioners, families with children, low-income individuals and employees in vulnerable sectors. Support measures should be well targeted and directed toward citizens who are most severely affected by inflation, rising prices and declining purchasing power. PSDE believes that social policies must be accompanied by economic policies capable of generating higher incomes, stable jobs and genuine opportunities for citizens.

“Given that the domestic market is increasingly dominated by imported products, the state must create more favorable conditions for domestic producers and stimulate the development of the local economy. Priority measures include facilitating businesses’ access to financing; reducing the bureaucratic burden and simplifying administrative procedures; stimulating investment in domestic production; developing the infrastructure necessary for economic activity; supporting the modernization and digitalization of businesses; promoting Moldovan products on the domestic and foreign markets; and creating fair competitive conditions for domestic producers. A strong economy begins with a competitive domestic producer, stable jobs and value added created in the Republic of Moldova,” the politician said.

According to Vasile Bumacov, PSDE considers it necessary to conduct transparent, objective and regular assessments of how public funds are used, as well as of the effectiveness of programs and projects financed from the state budget. Citizens have the right to know how public money is spent; what the concrete results of government programs are; how much each project costs and what its impact is; and whether state resources are being used efficiently and in the public interest. Greater transparency, accountability and efficiency are needed in the management of public finances. Every leu from the budget should generate value for citizens and contribute to the country’s development.

The PSDE president also said that economic recovery cannot be achieved without investment, production and the creation of well-paid jobs.

“The state must create a predictable and competitive economic environment that encourages private investment, entrepreneurship and the return of human and financial capital to the Republic of Moldova. The objective of economic policy should be an economy that produces, creates jobs, generates income and gives citizens reasons to stay and build their future in the Republic of Moldova. This is the direction PSDE considers necessary for a more prosperous, competitive and economically secure Republic of Moldova,” he concluded.