Economy

This is a transitional economy from centrally planned to market. Since 1991, Romania’s economy is privatized. In the private sector produces almost 70 percent of GDP. Unemployment calculated for the whole country does not exceed 10 percent., Although in some regions up to 60 percent. In 2005, Romania hit flood, which caused losses of around 1 billion euros, feared then that it may even delay its accession to the European Union. The most important industries are mining, metallurgy and electrical engineering. In Romania, is also developing tourism.

In the first quarter of 2008 year the GNP increased by 9%.