The extent of Moldovan economy’s divergence from the European Union under the current economic uncertanties

Abstract

The Republic of Moldova has been having the aspiration to join the European Union (EU) since 1999, when the European integration was established as the main strategic objective of its foreign policy. After periods of democratic reforms and important steps towards aligning to the European requirements, the Republic of Moldova finally obtained the status of a candidate country for the EU in June 2022. However, current geopolitical and economic uncertainties determined by the pandemic crisis and amplified by the Ukrainian war make more difficult the European integration path of the Moldovan economy. Moreover, there are significant economic and financial gaps between Moldovan economy and the EU that need to be approached in order to increase its capacity to cope with competition and market forces and to achieve a high degree of sustainable economic convergence. Against this background, this paper aims to uncover the divergence of the Moldovan economy from the EU member states under the economic uncertainties.