At least 5,000 protesters demonstrated in Moldova’s capital on Sunday, calling for the resignation of the administration and its pro-Western leader Maia Sandu and accusing them of being to blame for the country’s high inflation and soaring energy costs.
Moldova purchases its gas from the Russian gas monopoly Gazprom pursuant to a last-year-drafted agreement. Depending on the season, the price varies each month and is determined by the spot prices for oil and gas. This year, spot prices have surged.
According to Dinu Turcanu, a legislator from an opposition party of Ilan Shor, a businessman convicted of fraud in connection with a $1 billion bank scam, ‘Moldova is now in clinical death, which the current authorities have brought it to.’
With 3.5 million residents, Moldova is the smallest post-Soviet state and is currently dealing with severe economic problems brought on by high energy costs, the cost of which has jumped by 29% in September after rising by about 50% in August.
The nation’s growth projection for 2022 has been lowered to zero due to the nation’s record-high inflation rate of 34.3% and borrowing rates of 21.5%.
This month, the prime minister Natalia Gavrilita stated that moderate growth of 1.5% was anticipated for the Moldovan economy in the next year.
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