Romania, Down One Position In Economic Freedom Classification, Ranks 68th

Publish date: 16-01-2008
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Romania ranks 68th, down one position from 2007, among the 157 countries included in the classification regarding the degree of economic freedom, which was drawn up by the Heritage Foundation and the Wall Street Journal.

The Romanian economy is 61.5% free, namely 0.2% up over the level registered in 2007, which makes it fall in the category of moderate economic freedom.
Romania ranks 30th among 41 European states and the percentage falls way below the average value at regional level.

Romania was assigned high ratings for the degree of freedom in the business, fiscal and commercial sectors. The flat tax on income, respectively on companies' earnings, is of 16% and tax earnings significantly contribute to the gross domestic product, the report shows.

During the accession process to the European Union, the Romanian government implemented economic reforms compliant with the Maastricht criteria.

Nevertheless, the disputes and bickering between the Democratic Party and the National Liberal Party seriously shook up the political environment not long ago, the report also shows.

The evolutions at macroeconomic level made it possible for the middle class to appear and thus, poverty was reduced. The level of investments stays high following Romania's accession to the European Union, which paved the way for new and modern plants, new investment projects in the public sector and a high level of direct foreign investments.


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