Moldova by RBD.ME

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Description Moldova by rbd.me Part of Romania during the interwar period, Moldova was incorporated into the Soviet Union at the close of World War II. Although the country has been independent from the USSR since 1991, Russian forces have remained on Moldovan territory east of the Dniester River supporting the Slavic majority population, mostly Ukrainians and Russians, who have proclaimed a "Transnistria" republic. One of the poorest nations in Europe, Moldova became the first former Soviet state to elect a Communist, Vladimir VORONIN, as its president in 2001. VORONIN served as Moldova's president until he resigned in September 2009, following the opposition's gain of a narrow majority in July parliamentary elections and the Communist Party's (PCRM) subsequent inability to attract the three-fifths of parliamentary votes required to elect a president. Moldova's four opposition parties formed a new coalition, the Alliance for European Integration (AEI), which will act as Moldova's governing coalition until new parliamentary elections can be held, possibly in summer 2010. Moldova experienced significant political uncertainty in 2009, holding two general elections (in April and July) and four presidential ballots in parliament, all of which failed to secure a president.   WebCam Location Eastern Europe, northeast of Romania   Area - comparative slightly larger than Maryland   Natural resources Moldova rolling steppe, gradual slope south to Black Sea   Population Moldova landlocked; well endowed with various sedimentary rocks and minerals including sand, gravel, gypsum, and limestone   Religions Moldova Moldovan/Romanian 78.2%, Ukrainian 8.4%, Russian 5.8%, Gagauz 4.4%, Bulgarian 1.9%, other 1.3% (2004 census)   Languages Eastern Orthodox 98%, Jewish 1.5%, Baptist and other 0.5% (2000)   Education Moldova expenditures Moldovan (official, virtually the same as the Romanian language), Russian, Gagauz (a Turkish dialect)   Government Moldova type 7.6% of GDP (2006)   Independence 32 raions (raioane, singular - raion), 3 municipalities (municipii, singular - municipiu), 1 autonomous territorial unit (unitatea teritoriala autonoma), and 1 territorial unit (unitatea teritoriala)   Moldova Economy - overview Moldova remains one of the poorest countries in Europe despite recent progress from its small economic base. It enjoys a favorable climate and good farmland but has no major mineral deposits. As a result, the economy depends heavily on agriculture, featuring fruits, vegetables, wine, and tobacco. Moldova must import almost all of its energy supplies. Moldova's dependence on Russian energy was underscored at the end of 2005, when a Russian-owned electrical station in Moldova's separatist Transnistria region cut off power to Moldova and Russia's Gazprom cut off natural gas in disputes over pricing. In January 2009, gas supplies were cut during a dispute between Russia and Ukraine. Russia's decision to ban Moldovan wine and agricultural products, coupled with its decision to double the price Moldova paid for Russian natural gas, slowed GDP growth in 2006-07. However, in 2008 growth exceeded 7%, boosted by Russia's partial removal of the bans, solid fixed capital investment, and strong domestic demand driven by remittances from abroad. The country reversed course again in 2009, due to the onset of the global financial crisis and poor economic conditions in Moldova's main foreign markets, which dramatically decreased remittances. GDP fell about 8% in 2009. Unemployment almost doubled and inflation disappeared - at 0%, a record low. Moldova's IMF agreement expired in May 2009. In fall 2009, the IMF allocated $186 million to Moldova to cover its immediate budgetary needs, and the government signed an new agreement with the IMF in January 2010 for a program worth $574 million. Economic reforms have been slow because of corruption and strong political forces backing government controls. Nevertheless, the government's primary goal of EU integration has resulted in some market-oriented progress. The granting of EU trade preferences and increased exports to Russia will encourage higher growth rates, but the agreements are unlikely to serve as a panacea, given the extent to which export success depends on higher quality standards and other factors. The economy is likely to have a modest recovery in 2010 but remains vulnerable to political uncertainty, weak administrative capacity, vested bureaucratic interests, higher fuel prices, poor agricultural weather, and the skepticism of foreign investors as well as the presence of an illegal separatist regime in Moldova's Transnistria region.   Investment Moldova 24.5% of GDP (2009 est.)   Industries Moldova sugar, vegetable oil, food processing, agricultural machinery; foundry equipment, refrigerators and freezers, washing machines; hosiery, shoes, textiles   Airports Moldova 367,150 (2009)