Romania Romania Background Soviet occupation following World War II led to the formation of a Communist "peoples republic" in 1947 and the abdication of the king. The decades-long rule of dictator Nicolae CEAUSESCU, who took power in 1965, and his Securitate police state became increasingly oppressive and draconian through the 1980s. CEAUSESCU was overthrown and executed in late 1989. Former Communists dominated the government until 1996, when they were swept from power by a fractious coalition of centrist parties. Currently, the Social Democratic Party forms a nominally minority government, which governs with the support of the opposition Democratic Union of Hungarians in Romania. Bucharest must address rampant corruption, while invigorating lagging economic and democratic reforms, before Romania can achieve its hope of joining the European Union. Romania Economy Romania began the transition from Communism in 1989 with a largely obsolete industrial base and a pattern of output unsuited to the country's needs. The country emerged in 2000 from a punishing three-year recession thanks to strong demand in EU export markets. Despite the global slowdown in 2001-02, strong domestic activity in construction, agriculture, and consumption have kept growth above 4%. An IMF Standby Agreement, signed in 2001, has been accompanied by slow but palpable gains in privatization, deficit reduction, and the curbing of inflation. Nonetheless, recent macroeconomic gains have done little to address Romania's widespread poverty, while corruption and red tape hinder foreign investment. Romania Location Southeastern Europe, bordering the Black Sea, between Bulgaria and Ukraine Romania Flag three equal vertical bands of blue (hoist side), yellow, and red; the national coat of arms that used to be centered in the yellow band has been removed; now similar to the flag of Chad, also resembles the flags of Andorra and Moldova
|
