Key Figures

Chief of State:
President Klaus Werner Iohannis
Head of Government:
Prime Minister Marcel Ciolacu


Government Name:
Adopted: 1991; Contains 8 titles which detail general principles fundamental rights, liberties, and duties, public authorities, the economy and public finance, constitutional court, Euro-Atlantic integration, revising the constitution, and final and transitional provisions.
Government Type:
Romania Flag
Coat of Arms of Romania

Index of Economic Freedom

Grades each country on a scale of 0 to 100, based on ten freedoms, with 100 representing the greatest amount of economic autonomy from government intervention. Source: Heritage Foundation (2023)

Country Risk Rating

Political and economic uncertainties and an occasionally difficult business environment can affect corporate payment behavior. Corporate default probability is appreciable. Source: Coface (2022)

Government Branches

Main Powers Election Process Election Cycle 1

President is responsible for safeguarding the constitution, is the supreme commander of the Armed Forces, and the chairperson of the Supreme Council of National Defense. Prime minister chooses other members of government.

President is elected by absolute majority vote through a two-round system. Prime minister is appointed by the president with the approval of the parliament.

5 years


High Court of Justice and Cassation is Romania's supreme court and the court of last resort.

Justices appointed by the president on the recommendation of the Superior Council of Magistrates.

9 years


Senate is the higher house of the parliament and both houses serve as a bicameral legislature for the Romanian government.

Senate members are elected through a modified mixed-member proportional system. Chamber of Deputies has 19 members that are reserved for minorities and 315 members elected through a modified mixed-member proportional system.

4 years

Regional Trade Blocs

International Organization Participation [2]

Environmental Agreements [3]

Tax Information [2]

Tax Authority:
Ministry of Public Finance
Tax Name:


  1. ElectionGuide
  2. EY,
  3. CIA World Factbook,
  4. U.S. Bilateral Relations Fact Sheets