Romania+Economics


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 * Their **Market Economy** is developing.
 * It remains the 2nd poorest European Union member state by GDP per capita.
 * The country was in bad economical shape during the transition from Communisim, with an obsolete industrial base and an output that was unsuited for the country's needs.
 * The country finally emerged after a three-year recession thanks to a strong demand in export markets. However, GDP groth led to large account imbalances.
 * Romania's macroeconomic gains have only recently started to spur creation of middle class and adress Romania's poverty.
 * Corruption continues to handicap Romania's business environment.
 * Now the country is feeling the effects of a global downturn in financial markets and trade. Italy is Romania's largest trading partner.
 * The **unemployment rate** is **7.1%** as of June 2010. This is also a very low percent, because many people have emigrated in search of jobs.
 * The **leu** is the **currency** of Romania. 1 US Dollar = 3.22930 leu. They hope to adopt the Euro by 2014.




 * The **average gross wage per month** is 627.70 US dollars.
 * The **unemployment rate** is **7.1%** as of June 2010. This is also a very low and unrealistic percent, because many people have emigrated in search of jobs.
 * Information from Wikipedia.

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