Moldova plans to double the size of its economy within the next ten years, Deputy Prime Minister and Minister of Economic Development and Digitalisation Doina Nistor said on May 13. 

Speaking at the European Bank for Reconstruction and Development (EBRD) annual meeting in London, Nistor outlined an ambitious reform agenda aimed at transforming the small Eastern European country into a resilient, innovation-driven economy more closely integrated with the European Union.

“With strong governance, we plan to double our economy in the next decade,” Nistor told an EBRD panel. “This comes from jumping in front of very low economic growth – zero economic growth in 2024. It’s an ambitious goal we need to fulfil, but the challenges are also opportunities.”

Moldova, a country of just over 2mn people, has endured a series of crises in recent years, including the COVID-19 pandemic, spillovers from the war in neighbouring Ukraine, a severe energy crisis and trade disruptions. Yet Nistor said the country had emerged stronger and more integrated with Europe.

“Today Moldova is navigating overlapping crises – security, energy, trade – while at the same time we are accelerating our path to EU membership,” she said. “For us, governance is not a theoretic goal, it’s our frontline defence and the main engine of reform and resilience for our country.”

“In just four years, we’ve weathered multiple shocks, and yet Moldova has emerged more resilient – economically and institutionally – and more connected to Europe,” she added.

Private investment is already showing signs of recovery, according to the deputy minister, rising 15% in 2024 after two years of decline, driven by government incentives. 

She also highlighted the economic potential of Moldova’s large diaspora, which the government is encouraging to return and contribute to the country’s development.

Digital transformation is a central part of Moldova’s long-term growth strategy. “We aim to become a 100% digital country,” Nistor said. “Countries like Moldova need to ensure they can participate in the digital revolution … We need new economic sectors to diversify and add value.”

15 years ago, Moldova’s tech sector made up virtually none of the country’s GDP. Today it accounts for 7% and makes up 11% of national exports, Nistor said. 

Another strategic priority is infrastructure. “The war in Ukraine has redrawn trade maps,” she said. “Moldova is now a key corridor between Ukraine and the EU. This is not just about transportation – it’s about solidarity lanes. They take time to build, but they unlock massive private investment, particularly in logistics.”

Energy security has also become a top priority, with Moldova successfully cutting its dependence on Russian gas. “We are no longer dependent on Russian gas, we have diversified,” Nistor said. In 2024, 16% of Moldova’s energy came from renewable sources. The country is also building its first independent electricity connection to Romania and the European Union.

“Strong governance, resilience, innovation and regional integration – these are the pillars of our strategy,” she said. “We are turning geopolitical pressure into development momentum.”

Since President Maia Sandu and her Party of Action and Solidarity (PAS) came to power, Moldova has made a decisive move towards EU integration, being accepted as a candidate country in 2022. This came as Russia’s invasion of Ukraine prompted EU members to re-think the bloc’s policy on enlargement. 

However, Moldova’s future reform path will hinge on the outcome of a crucial general election later this year. The PAS is seeking re-election, but polls currently indicate it will fall short of a majority and may struggle to find partners in the new parliament.