Cutting public spending is something inevitable, says Prime Minister Valeriu Strelet, yet the payment of pensions and salaries will be ensured. Speaking at the meeting of the Prime Minister's Economic Council, Valeriu Strelet said measures will be applied to reduce spending for investment.

Representatives from the National Bank of Moldova presented a number of measures aimed at redressing the situation in the financial and banking sector, in particular with a view to reinvigorating instruments to finance the real sector. The representatives of the central bank also spoke about increasing interests on deposits and loans as a measure to overcome the economic crisis.

The Economic Council has launched consultations with the authorities and the business community to identify urgent measures for reinvigorating the economy. The business community has made a number of proposals, including measures to promote consumption of domestic goods, to support entrepreneurs and to find new markets. The signing of a free trade agreement with Egypt is viewed as an opportunity with great potential for Moldovan fruit exports.