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Moldova: Recent Economic Developments
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 1996: Issue 117
Language:
English
Publication Date:
20 Nov 1996
DOI:
https://doi.org/10.5089/9781451824919.002
ISBN:
9781451824919
ISSN:
1934-7685
Pages:
79
Keywords:
ISCR; CR; exchange rate; national bank; enterprise manager; spinoff enterprise; capital stock; economic activity; market economy; enterprise sector; C. enterprise Arrears; enterprise restructuring program; enterprise interstate credit; privatized enterprise; collection ratio; restructuring program; energy enterprise; enterprise arrears; Arrears; Commercial banks; Pension spending; Imports; Tariffs; Baltics
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This paper describes economic developments in the Republic of Moldova during 1992–96. The authorities embarked on a comprehensive program of financial stabilization beginning in 1993. By 1995, the fiscal deficit had been cut to 5½ percent of GDP and the National Bank had implemented a tight monetary policy. Output stabilized and exports and imports rose rapidly, with the current account deficit narrowing to 6½ percent of GDP from 13½ percent in 1993. Data for the first half of 1996 show inflation remaining low and output recovering.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund