In 1993, following independence, Moldova undertook a massive privatization program. By January 2003, 80% of all housing units were in private hands, as were nearly all small, medium, and large businesses. Agriculture was privatized ending in 2000 through a US-sponsored program called "Pamint" (land).

The US Central Intelligence Agency (CIA) estimates that in 1998 Moldova's central government took in revenues of approximately $536 million and had expenditures of $594 million. Overall, the government registered a deficit of approximately $58 million. External debt totaled $1.3 billion.