In Romania, the ecomic transition has been incoherent and incomplete because of certain factors, some domestic, some external. The mechanism preserving macroeconomic balance - the monetary base objective pursued by the National Bank of Romania as a means of reining in inflation - was certainly insufficient and fragile when faced with the diversity and complexity of the problems raised by the transformation of the entire Romanian society.
As a result of all these difficulties, the economic activity has continued to decrease during many years, before strongly recovering.
Romania has high economic potentialities. Some social and economic features distinguish it as the second central European country, after Poland, as size of the market and economic potential.
Since 1990, Romania took the path of deep changes for the better on political, social and economic levels, aiming at a market economy. The choice for democratization and a market economy was beyond any doubts.
Main economic indicators for Romania
| 2011 | 2012 | 2013 | 2014 (f) | |
| GDP growth (%) | 2.2 | 0.7 | 3.5 | 2.3 |
| Inflation (yearly average) (%) | 5.8 | 3.4 | 4 | 2.8 |
| Budget balance (% GDP) | -4.3 | -2.5 | -2.5 | -2.2 |
| Current account balance (% GDP) | -4.5 | -4.4 | -1.1 | -1.3 |
| Public debt (% GDP) | 34.7 | 37.9 | - 38.1 | 39.0 |
(f) Forecast
Related articles
To go further
imf.org/external/country/ROU/index.htm - IMF documents and Romania
oecd.org/... - OECD documents about Romania
web.worldbank.org... - Economic development in Romania, by the World Bank
ebrd.com/pages/country/romania.shtml - EBRD, Romania page
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