Today, within a public event, the National Bureau of Statistics (NBS) presented the results of the Business Tendency Survey, the new statistical survey conducted between July and October this year with the assistance of the German Economic Team (GET) project.

The event was attended by the representatives of the central public authorities, other institutions and organizations, as well as the representatives from the GET team.

Oleg CARA, General Director of the NBS, mentioned that, „this statistical survey was carried out at the request of the Ministry of Economy and other users in order to anticipate the economic developments and turning points in economic activity. Business Tendency Survey is extremely useful in the decision-making process, especially in crisis situations”.

Oleg Cara pointed out that during its „implementation the demands of the users, the European standards and best practices were taken into account. The alignment with the provisions of the Acquis Communautaire is a priority for the NBS, especially in the context of the Republic of Moldova obtaining the status of a candidate country for accession to the European Union. The development and the testing of the statistical toolkit, with the implementation of the pilot survey on the Business Tendency Survey was carried out with the support of Germany, through the project financed by GET, which we greatly appreciate”. In order to have a continuity of the collected data, the NBS will also collect the Business Tendency Survey for the quarter VI of 2022 year. Moreover, General Director of the NBS mentioned that from 2023, the Business Tendency Survey will be conducted on a regular basis, quarterly.

In the same context,Victoria BLĂNUȚĂ, Head of Macroeconomic Analysis and Forecasting Section of the Ministry of Economy, appreciated the efforts of the NBS to implement and carry out the Business Tendency Survey. At the same time, she noted„that early results are extremely useful in the decision-making process, but also in crisis situations to anticipate future developments in the economy. Evidence-based policies are indispensable in determining the priority objectives for the development of the economy in the short, medium and long term”.

According to Ricardo GIUCCI, Executive Director of GET,„the elaboration and launch of the Business Tendency Survey by the NBS provides a basis for the development of indicators of high economic relevance for decision-makers, the business environment and for society in the Republic of Moldova. The German Economic Team is pleased to have supported the NBS in ​​carrying out this survey based on international best practices”.

During the event, the participants were familiarized with the experience of the Institute for Economic Research (ifo) in Germany, presented by Klaus WOHLRABE, in order to develop the business climate index, based on the data of the Business Tendency Survey.

The current Business Tendency Survey was developed in accordance with the User Guide „Joint Harmonised EU Programme of Business and Consumer Surveys”. The Business Tendency Survey is a qualitative (opinion) survey, the objective of which is: on the one hand, to collect information on current economic developments, on the other hand, to forecast future economic developments. This survey is complementary to quantitative statistical surveys, which differ in method and use. The frequency, speed and degree of harmonization are the main qualities of this opinion survey. The utility of the conjuncture survey is sustained by the continuous increase in data requests from internal and external beneficiaries. The Business Tendency Survey primarily measures the actual or expected evolution of the results of the profit activity, which is the driving force for economic development.

We inform you the Business Tendency Survey included approx. 2200 entities with the following types of activity: industry, construction, trade and market services, which provided information about the real situation, as well as the expectations in the next quarter for some indicators, such as: sales revenue, number of employees, value of investments, etc. The survey also collected information on the main causes limiting the economic activity of economic entities.

Presentation „Business Climate in Germany", Klaus Wohlrabe, Institute for Economic Research (ifo) Germany