Key Facts

GDP (ppp) per CAPITA

$12,200 (2008 est.)

Inflation Rate

7.8% (2008 est.)

Population

22,215,421 (July 2009 est.)

Country Risk Ratings

B

Ease of Doing Business

47/181

Global Competitiveness

4.1/134

Country Map

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gE Network

There are 35 members in the
gE Network for this country.

Romania : Introduction

The principalities of Wallachia and Moldavia - for centuries under the suzerainty of the Turkish Ottoman Empire - secured their autonomy in 1856; they united in 1859 and a few years later adopted the new name of Romania. The country gained recognition of its independence in 1878. It joined the Allied Powers in World War I and acquired new territories - most notably Transylvania - following the conflict. In 1940, Romania allied with the Axis powers and participated in the 1941 German invasion of the USSR. Three years later, overrun by the Soviets, Romania signed an armistice. The post-war Soviet occupation led to the formation of a Communist "people's republic" in 1947 and the abdication of the king. The decades-long rule of dictator Nicolae CEAUSESCU, who took power in 1965, and his Securitate police state became increasingly oppressive and draconian through the 1980s. CEAUSESCU was overthrown and executed in late 1989. Former Communists dominated the government until 1996 when they were swept from power. Romania joined NATO in 2004 and the EU in 2007.

Romania: National Bank of Romania

The National Bank of Romania is the monetary authority of the country. Its primary functions are to be banker to the banks, banker to the state and manager of the country's foreign reserves. Information on the entity and financial policies of the country are available in Romanian and English.

Romania: Bucharest Stock Exchange

Sources:
CIA World Factbook (September 2009)
U.S. Dept. of State Country Background Notes (March 2009)