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The Republic of Romania (Romanian România) is a state in South East Europe at the Black Sea. Romania belongs to the European free market countries with high development intensity. The transformation was difficult, apart from the political structures that a central directed political economy had left, the economic problems stood in the foreground. A fundamental economic reform was necessary, in order to improve the situation continuously. The reform began in 1996 and since 2000 exists a functioning free-market economy. The rising interest caused by the attractiveness began to increase the direct investments from foreign countries. A market analysis resulted that most sectors of the economy are not covered completely yet - partly a potencial of 50% is still open. Crucial factors like political stability, acceptance of the corruption, low prices, entrance into the European Union and NATO, favorable workers, etc., make Romania for one of the most attractive economic locations now. Facts and figures: It is a large country in Europe (place 9) The market is comprehensive (22.2 millions inhabitants) BIB growth was in the last years between 5% - 7.7% Unemployment rate sank in the last 7 years from 11,8 % to 5,2% Inflation sank from 60% in the year 1998 on approx.. 5% in the year 2007 Average wage are approx.. 370 euro Low tax rate (16% for companies) Direct investments of 26, 39 millions Euro in the last 4 years
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