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National Development Strategy Moldova 2020 Drafting and consultation process Change of paradigm Current growth model • Has limitations – Consumption-led economic growth (fuelled by remittances) – Not enough to ensure convergence with higher living standards • Is unsustainable – Declining rate of remittances due to reunification of families abroad translates into declining rate of growth Proposed growth model • Investment-led – Stimulates capital formation and retention of labor force by removal of the binding constraints • Allows faster accumulation of wealth – GDP in 2020 is estimated at 12% higher than baseline • Creates more opportunities at home General objective of Moldova 2020 To boost a qualitative, long term and inclusive economic growth Seven priorities (not sectors!) • Quality of education aligned with market demand • Improved road infrastructure provides better access to services and increases mobility • Efficiency in the financial sector improves access to finance • Better business rules attract investors • Efficient use of energy resources optimizes production cost and energy bill for households • Reformed pension system ensures decent living conditions for retired persons • Corruption-free judicial system ensures property rights and attracts investment Each priority • Situation analysis - extend of the problem, tendencies and impact • Strategic vision, where we want to be in 2020 • Specific objectives, how the Government will get to the strategic vision Drafting process • Coordination Committee created • A list of priorities was estalished • Format of the document and the priorities validated by the Interministerial Committee on Strategic Planning • Working groups for each priority created • Public discussions on particip.gov.md Consultation process • Moldova 2020 was launched for public consultations on October 17th • Line ministries organized for each priority broad round tables with civil society, development partners, academia, private sector • http://particip.gov.md/ Next steps • Comments will be received until the end of the November • State Chancellery will finalize the document and promote it in the Government meeting until the end of December