ANALYSIS OF THE INTERACTION BETWEEN THE MONETARY AND CREDITING INDICATORS IN MOLDOVA'S ECONOMY

Tudor SULA Institutul Naţional de Cercetări Economice

Abstract

In order to streamline the activity of the credit system and activate the investment crediting of the real sector of the economy of the Republic of Moldova, on the basis of statistical data, there was performed an analysis of the dynamics and the structure of money supply, including the analysis of the interaction between the monetary and crediting indicators, as well as of factors influencing on the evolution of monetary and crediting indicators during the period 2005-2016. Thus, in order to streamline the activity of the credit system of the Republic of Moldova at present, it is necessary to promote a monetary policy based on the correlation and adjustment of the macroeconomic, monetary and credit indicators; to achieve the objectives of the monetary policy, new international approaches and practices are needed, including those recommended by international financial organizations to improve prudential supervision. The National Bank of Moldova is expected to work more efficiently with the Government of the Republic of Moldova to provide sufficient investment resources to meet the needs of the real sector of the economy. Keywords: credit system activity, monetary policy, monetary aggregates, money supply, monetary indicators interaction.