Evolutions and prospects in Romania’s economy

Abstract

As an EU member, Romania is firmly anchored in the global economy, making it sensitive to its developments, but also to its regression. The current period is still quite cloudy; Romania is still subject to major risks. As a result of deepening economic and financial crisis macroeconomic indicators have not had the sustained positive development. Romania’s GDP in 2009 declined from 7.3% to -7.1%, in 2010 the decrease was about 1.2%, as in 2011 and 2012 to record slightly positive developments of 2.5% and 0.3%. For 2013 it is expected an increase of 2% for Romania’s GDP, while global economic growth is still quite slow. Since 2010 inflation rate is decreasing, going from 6.09% to 3.33% in 2012 and by the end of 2013 it should be around 3.4% according to the Economist Intelligence Unit. In 2010 the unemployment rate in Romania was at 7.3% reaching to 7% in 2012. We will try in this article to make a brief analysis of the current situation of Romania, but also to see what its prospects for development are.

Keywords

• growth
• inflation
• unemployment
• external debt
• balance of payments