Search results
Results From The WOW.Com Content Network
The economic austerity, along with political repression, were the main reasons behind the protests and revolution of 1989. [31] His politics isolated him not only from the people, but also from the party (as seen by the Letter of the Six in March 1989) and the military.
1995 was the last year in which Romania's economy was dominated by the state. From 1996 onwards, the private sector would account for most of Romania's GDP. [9] Data for 1975, 1980 and 1982-1988 taken from the Statistical Abstract of the United States. [10] Data for 1989-1995 provided by the OECD. [11]
Despite the prolonged economic and social crisis between 1982 and 1989 and the following austerity measures; mostly due to the fast and stunning economic growth that was followed by the decline, [42] many Romanians still view the Socialist era of their country positively, [43] looking back nostalgically at an era of perceived stability and ...
Despite having mineral resources and a state interventionist policy, Romania was not able to change the agricultural character of its economy into an industrial one. [1] 80% of its population was employed in labor-intensive agriculture, which made up 64% of Romania's exports, while only 2% of its exports consisted of manufactured goods. [1]
In order to be granted the loan, Romania agreed to raise food and gasoline prices and reduce spending (see 1980s austerity policy in Romania) and to provide additional information about its economy to the fund. [6] [7] It also agreed to reduce the pace of industrialization and to increase investment in agriculture. [8]
Social and economic malaise had been present in the Socialist Republic of Romania for quite some time, especially during the austerity years of the 1980s. The austerity measures were designed in part by Ceaușescu to repay the country's foreign debts, but resulted in widespread shortages that fomented unrest. [ 11 ]
Europe's deteriorating economic situation continues to dominate the financial headlines. Fortunately, much of the news this month has been positive. Greece managed to default in an orderly manner ...
After application of drastic austerity measures in 2010, the Romanian economy recovered. Thus, in 2013, Romania recorded the highest economic growth in the EU. [10] Despite this growth, the standard of living is decreasing, [11] many Romanians being unable to endure everyday expenses. Poor working conditions, mass layoffs and tax hikes ...