The Republic of Moldova is a lower-middle-income economy in Eastern Europe neighbouring Romania and Ukraine. Since independence it has seen economic and financial crises, drought and political instability. Declining macroeconomic stability is compounded by a mounting fiscal deficit, deindustrialization and heavy reliance on volatile flows of personal remittances. Yet, with its ready access to markets in the European Union (EU) and the Commonwealth of Independent States, the country has started to reap benefits from economic integration, with several sectors emerging as potential leading activities. To sustain and reinforce this momentum for sustainable, long-term growth will require economic stability and diversification through innovation.

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