Goal 8: Decent work and economic growth

 

After the economic recession of 2009, Moldova’s economy grew on average by 4.5 per cent annually, which is in line with the average levels of other Commonwealth of Independent States (CIS) countries, but slightly higher than the Central European countries. Despite this growth, the economy did not enhance its capacity to create jobs – the employment rate hovered at around 38–40 per cent, being one of the lowest in the region. Additionally, the labour productivity remained low, especially in agriculture – a key sector that employs about one third of the labour force. As a result, wages remained among the lowest in the region, pushing the labour-force to migrate and depriving the country of one of its most valuable resources – human capital. These constraints became more pressing given the expected slow down in economic growth in the upcoming years (despite the International Monetary Fund (IMF) forecasts, according to which the GDP of Moldova will grow, on average, by about 3 per cent per year by 2020).

Given the focus of the 2030 Agenda on people, the economic growth needs to be more sustainable and inclusive, in order to generate a meaningful impact on human development. Thus, SDG 8 addresses the needs of women and men, youth, disabled, and labour migrants and envisages the key instruments and mechanisms for achieving people-centred economic growth: labour productivity as a key means to increase real wages, along with competitiveness, business diversification and innovation; jobs that are decent, well-paid and equally paid, secure and formal; as well as a robust financial sector for larger access to financing. Higher resource efficiency in production and consumption, which aims to decouple the economic growth from environmental degradation, will make economic prosperity and jobs generation environmentally sustainable.

 

  • Sustain per capita economic growth and, in particular, a GDP growth of at least 3% per year
  • Stimulate the growth of economic productivity at higher rate compared to the real wage growth, through diversification, technological upgrading and innovation, including through a focus on high-value added and labour-intensive sectors, defined as top-priority sectors by the Investment Attraction and Export Promotion Strategy 2016-2020 ((1) agriculture and food industry; (2) automotive industry; (3) business services especially Business Process Outsourcing (BPO); (4) clothing and footwear industry; (5) electronics industry; (6) Information and Communication Technologies; and (7) production of machinery and its parts)
  • Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises, including through access to financial services
  • Improve progressively, through 2030, resource efficiency in consumption and production to decouple economic growth from environmental degradation
  • By 2030, align the employment rate to the average value in Central and Eastern Europe, and stimulate productive employment, decent work for all women and men, including for young people and persons with disabilities, and ensure equal pay for work of equal value
  • By 2030, align the proportion of youth not in employment, education or training, to the average value in Central and Eastern Europe, in conditions of sustainable and inclusive development
  • Eradicate forced labour, child labour and end human trafficking
  • Protect labour rights and promote safe and secure working environments for all workers
  • By 2030, devise and implement policies to promote sustainable tourism, that encourages the implementation of public-private partnerships, develops the capacities of the local government in this field and, respectively, creates jobs and promotes localculture and products
  • Strengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all

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Goals in action
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SDG 8

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