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Economy of Romania

Romania is considered a developing country. A nation's stage of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developing country, Romania may not be able to provide consistent social services to its citizens. These social services can include things like public education, reliable health care, and law enforcement. Citizens of developing countries can have a lower life expectancy than citizens of developed countries. Every year, Romania exports about US$65.84 billion and imports about US$73.42 billion. 4.6% of the country's population is unemployed. The total number of unemployed in Romania is 900,709. In Romania, 25.3% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Romania is quite high, but nothing to worry about in terms of investments. Potential lenders should look at other economic indicators, including GDP, the rate of urbanization and the strength of the currency, before making investment decisions. Government spending on education is 4.3% of GDP. The country's Gini index is 27.3. Romania experiences a high level of equality. The income differences between citizens are only slightly significant. Romania has a Human Development Index (HDI) of 0.785. Romania has a high HDI value. This suggests that the majority of citizens will be able to live a worthwhile life while providing significant help and support to citizens with lower living standards. The Global Peace Index (GPI) for Romania is 1,542. Due to the strong presence of the law enforcement authorities and the high level of social responsibility, Romania is very safe in international comparison. The Index of Strength of Legal Rights for Romania is 10. Overall it is considered to be quite strong – bankruptcy and collateral laws can protect the rights of borrowers and lenders quite well; Credit information is plentiful and easily accessible.

The currency of Romania is the Romanian Leu. The plural form of the word Romanian leu is lei. The symbol used for this currency is Lei and is abbreviated to RON. The Romanian leu is divided into ban; there are 100 in a leu.

Credit rating
The credit rating depth index for Romania is 7, which means that the information is mostly sufficient and fairly detailed; Accessibility is not a problem. According to the rating agency S&P, Romania has a credit rating of BBB- and the prospects for this rating are stable. According to the rating agency Fitch, Romania has a credit rating of BBB- and the prospects for this rating are stable. According to the rating agency Moody's, Romania has a credit rating of Baa3 and the prospects for this rating are stable.

Central bank
In Romania, the institution that manages the state's currency, money supply and interest rates is called the National Bank of Romania. Locally, the central bank of Romania is called Banca Națională a României. The average interest rate on deposits offered by local banks in Romania is 3%.

National debt
Romania has a public debt equal to 42.5% of the country's gross domestic product (GDP) as estimated in 2012.

Control information
Corporate tax in Romania is 16%. Personal income tax ranges from 16% to 16% depending on your specific situation and income level. VAT in Romania is 19%.