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About Romania

About Romania, it can be said that, during the period 1948 through 1989, Romania had an economy similar to the Soviet style economy. During this period, economy banked on heavy industry. Romania is considered as a poor European country. The industrial sector in Romania, comprises approximately 50% of the total gross national product or the GNP. The industrial sector provides employment to 1/3rd of the total workforce in Romania. There was an increase in the budget deficit(consolidated) from 1.9 percent of the gross domestic product in the year 2006 to 3.2 percent of the gross domestic product in the year 2007. The same is figured for the year 2008. This was observed by the European Commission as per ESA 95 method.
About Romania's industrial sector, tourism:
The chief industries of Romania include chemicals, products of steel, machinery and vehicles . Resita, Oradea, Timsoara, Braila, Iasi, Hunedoara, Brasov, Galati, Bucharest, Arad are some of the important industrial areas in Romania. Constanta as well as Galati are tourist destinations and form part of the tourism industry in Romania. "Paris of the East", is the name given to Bucharest.
About Romania and its natural resources:
Romania, imports fuels and raw materials as its reserves of mineral resources are limited in Romania. Formerly, Romania was one of the chief oil producing countries.25% of the land area in Romania is forest land. The agricultural sector in Romania employs 27% of the total workforce accounting for 15 percent of gross national product or the GNP. Sugar beets, grains, potatoes, corn are some of the important crops grown in Romania.
About Romania's statistics and forecast:
It is anticipated that the growth in real gross domestic product is likely to be 6.5% in 2007. 5.5% is the growth predicted in 2008.

The current account deficit is likely to increase to 11.4 percent of the gross domestic product in the year 2007 and is likely to be 13.1 percent in the year 2008.

Fiscal deficit is likely to be 3 percent of the gross domestic product in the year 2008.
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