Identifies the top priorities in Moldova's reform agenda as it attempts to halt an evolving economic crisis and succeed in its transition to a market economy. Moldova's trade-dependent economy has been hit by a series of internal and external shocks over the past few years: a freeze followed by floods in 1991, a severe drought in 1992, and, in that same year, a violent conflict over the status of the Transnistria region which destroyed some infrastructure, fuel pipelines, and industrial plants. These events have forced the country's economy to try to adjust to the resulting decline in trade and make far-reaching structural changes. This volume stresses that Moldova needs less adjustment in its sectoral composition of output and exports and more adjustment within each sector. The government's objective is to halt the output decline of the last two years while bringing inflation under control and reorienting production to a new pricing structure. Reforms at the macroeconomic level will underpin Moldova's sustainable growth and safeguard the welfare of the most vulnerable in the population.
Series: Urban Management and the Environment, 14
Number Of Pages: 82
Published: May 1994
Publisher: World Bank Publications
Country of Publication: US
Dimensions (cm): 27.9 x 22.2
Weight (kg): 0.53