Background
On January 2, 1992, Moldova introduced a market economy, liberalizing prices, which resulted in huge inflation. In 1993, a national currency, the Moldovan leu, was introduced to replace the Soviet ruble. The economic fortunes of Moldova began to change in 2001; since then the country has seen a steady annual growth of between 5% and 10%. Remittances from Moldovans abroad account for almost 38% of Moldova's GDP, the second-highest percentage in the world. However, Ion Marandici claims the high level of remittances did not lead to development.
Read more about this topic: Economy Of Moldova
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