Search results
Results From The WOW.Com Content Network
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. [13] Data for 1975, 1980 and 1982-1988 taken from the Statistical Abstract of the United States. [14] Data for 1989-1995 provided by the OECD. [15]
Thus, Romania jumped from not even being in the top 10 countries with the smallest public debt (as percentage of GDP) in 1989 to being the world leader in 1990. Romania remained the country with the smallest public debt in 1991, falling to the 6th place in 1992 and 1993 and finally to the 9th place in 1994.
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]
Romania joined the United Nations on 14 December 1955 (see United Nations Security Council Resolution 109) as well as the International Monetary Fund and the World Bank in 1972. In July 1980, Romania signed a comprehensive trade agreement with the European Economic Community; which in turn became the European Union in 1993 when Romania joined ...
The economy grew between the 1950s and 1970s at one of the fastest rates in the world, changing Romania from a predominantly agricultural country into an industrialized country. Almost 30% of the population moved during this period from rural to urban areas to work in the newly built factories.
Its consequences were most felt with the collapse of the regime's social safety net during the 1980's Romanian austerity period, which led to widespread institutional neglect of the needs of orphans, with severe consequences in their health, including high rates of HIV infection in children, and well-being. A series of international and ...
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 ...
1980–1989 world oil market chronology; 1980s austerity policy in Romania; 1980s oil glut; 1985 Israel Economic Stabilization Plan; 2000s commodities boom; A.