Inflation Collapse in Moldova Helped by EU After Russia Fallout
- Central bank chief says rebound has been faster than predicted
- Dragu says Moldova a ‘success story’ as it seeks to join EU
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Moldova’s central bank chief said a collapse in inflation showed that the abrupt turn away from Russian energy had paid off as the republic wedged between Ukraine and Romania seeks accession to the European Union.
Central Bank Governor Anca Dragu said an influx of EU financial aid and fresh energy supplies from Romania were behind last year’s slowdown in inflation to 4.2% from more than 30% in 2022. The recovery after the turmoil brought on by Russia’s invasion of Ukraine was far more robust than Moldova’s authorities had initially expected, she said.