l gas,
and energy shortages have contributed to sharp production declines
since the breakup of the Soviet Union in 1991. The Moldovan government
is making steady progress on an ambitious economic reform agenda, and
the IMF has called Moldova a model for the region. As part of its
reform efforts, Chisinau has introduced a stable currency, freed all
prices, stopped issuing preferential credits to state enterprises and
backed their steady privatization, removed export controls, and freed
interest rates. Chisinau appears strongly committed to continuing
these reforms in 1995. Meanwhile, privatization of medium and large
enterprises got underway in mid-1994 and is expected to pick up speed
in 1995. To improve its precarious energy situation, Chisinau reached
an agreement with Moscow in December 1994 on gas deliveries for 1995.
Gazprom, Russia's national gas company, has agreed to reduce prices
for natural gas deliveries to Moldova from the world market price of
$80/thousand cubic meters (tcm) to $58/tcm in return for part
ownership of the Moldovan pipeline system.

National product: GDP - purchasing power parity - $11.9 billion (1994
estimate as extrapolated from World Bank estimate for 1992)

National product real growth rate: -30% (1994 est.)

National product per capita: $2,670 (1994 est.)

Inflation rate (consumer prices): 7.6% per month (1994)

Unemployment rate: 1% (includes only officially registered unemployed;
large numbers of underemployed workers)

Budget:
revenues: $NA
expenditures: $NA, including capital expenditures of $NA
note: budget deficit for 1993 approximately 6% of GDP

Exports: $144 million to outside the FSU countries (1994); over 70% of
exports go to FSU countries
commodities: foodstuffs, wine, tobacco, textiles and footwear,
machinery, chemicals (1991)
partners: Russia, Kazakhstan, Ukraine, Romania, Germany

Imports: $174 million from outside the FSU countries (1994); over 70%
of imports are from FSU countries
commodities: oil, gas, coal, steel, machinery, foodstuffs,
automobiles, and other consumer durables
partners: Russia, Ukraine, Uzbekistan, Romania, Germany

External debt: $300 million (as of 11 December 1994)

Industrial production: growth rate -30% (1994 est.)

Electricity:
capacity: 3,000,000 kW
production: 8.2 billion kWh
consumption per capita: 1,830 kWh (1994)

Industries: key products are canned food, agricultural machinery,