Dodon: Moldova Keeps Dominating the Top of European Countries with Highest Inflation

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In September it reached 33.97%, much higher than in other European countries. The country’s ex-president expects this trend to continue: in October, inflation will continue to be fueled by rising gas, heating and electricity prices. At the same time, the average wage in the economy has grown insignificantly this year, below the inflation rate, which leads to a decrease in the purchasing power of the population compared to last year, reports “According to our estimates, the purchasing power of the population this year will be at least 16% lower than last year. This is the most significant decline since 1994. Even during the crisis of 1998-1999, the purchasing power of the population did not fall so dramatically,” said Igor Dodon. But according to him, state employees have the hardest time as they are entitled to the smallest increase in wages this year – only 5.5%. Thus, the purchasing power of state employees will decrease by 27% this year. In other words, this year they will be able to afford to buy 27% less goods than last year on an average salary. Given that people's incomes do not allow them to make purchases at least at last year's level, the only way out for people are loans, with the help of which they can survive the winter. But here, too, the authorities have fully demonstrated their incompetence, says the ex-president. Thus, since July, the loan terms have been unreasonably tightened, and along with the increase in the prime rate the process of lending to individuals has practically stopped. Amid the crisis, lack of income, lack of increase in wages in the public sector, the government decided to virtually prohibit lending to the population. “As a result, more than 600 thousand families in Moldova are waiting in terror for winter and have no idea how they will survive the cold. Another scary thing is that the authorities have no idea what to do, and everything they have done so far has only made the financial situation of the population more difficult. Inflation in Moldova is not a simple figure. It illustrates the incompetence and anti-social policy of the authorities. The only way out in this situation is the full resignation of the current leadership and the holding of early presidential and parliamentary elections,” Igor Dodon summed up. Point