World Bank lowers Moldova 2016 GDP forecast

October 13, 2015 12:43 PM

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CHISINAU Oct 13 The World Bank slashed its forecast for Moldova's economy on Tuesday, seeing growth of 0.5 percent in 2016 compared with an earlier forecast of 1.5 percent, partly due to a banking sector crisis that has caused mass public protest.

The theft of $1 billion, equivalent to about one eighth of the poor ex-Soviet state's annual gross domestic product, has hit living standards, weakened the national leu currency and driven up inflation.

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