street address
telephone:
373 (2) 23-37-72 or 23-34-76
FAX:
7-0422-23-30-44
Flag:
same color scheme as Romania - 3 equal vertical bands of blue (hoist
side), yellow, and red; emblem in center of flag is of a Roman eagle
of gold outlined in black with a red beak and talons carrying a yellow
cross in its beak and a green olive branch in its right talons and a
yellow scepter in its left talons; on its breast is a shield divided
horizontally red over blue with a stylized ox head, star, rose, and
crescent all in black-outlined yellow

@Moldova, Economy

Overview:
Moldova has pushed ahead boldly on economic reform since gaining its
independence from the Soviet Union in 1991. It introduced a
convertible currency - the leu - in late 1993 that has remained stable
against the dollar, removed price controls on most products,
eliminated licenses and quotas on most imports and exports, and freed
interest rates. In 1994, Moldova aims to privatize at least one-third
of state enterprises, lower inflation to 1% per month, and reduce the
budget deficit to 3.5% of GDP. Moldova enjoys a favorable climate and
good farmland but has no major mineral deposits. As a result,
Moldova's economy is primarily based on agriculture, featuring fruits,
vegetables, wine, and tobacco. Moldova, however, must import all of
its supplies of oil, coal, and natural gas, and energy shortages have
contributed to sharp production declines since the break-up of the
Soviet Union. Activities by separatist groups in the Dniester region
have held back economic development in that area. Foreign economic
assistance has been a tangible plus for Moldova, whereas direct
foreign investment has been lacking.
National product:
GDP - purchasing power equivalent - $16.3 billion (1993 estimate from
the UN International Comparison Program, as extended to 1991 and
published in the World Bank's World Development Report 1993; and as
extrapolated to 1993 using official Moldovan statistics, which are
very uncertain because of major economic changes since 1990)
National product real growth rate:
-4% (1993 est.)
National product per capita:
$3,650 (1993 est.)
Inflation rate (consumer prices):
30% per month (1993)
Unemployment rate:
less than 1% (includes only officially registered unemployed; large
numbers of underemployed workers)
Budget:
revenues:
$NA
expenditures:
$NA, including capital expend