https://www.confiduss.com/en/jurisdictions/romania/economy/ - Economy of Romania

Romania is considered a developing country. A nation's level of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developing country, Romania may not be able to provide consistent social services to its citizens. These social services can include things like public education, reliable health care, and law enforcement. Citizens of developing countries may have a lower life expectancy than citizens of developed countries. Every year, Romania exports about US$65.84 billion and imports about US$73.42 billion. 4.6% of the country's population is unemployed. The total number of unemployed in Romania is 900,709. In Romania, 25.3% of the population lives below the poverty line. The proportion of citizens living below the poverty line in Romania is relatively high, but does not give rise to total concern in terms of investment. Potential lenders should look at other economic indicators, including GDP, the rate of urbanization and the strength of the currency, before making investment decisions. Government spending on education is 4.3% of GDP. The country's Gini index is 27.3. There is a high level of equality in Romania. The income differences between the citizens are only slightly pronounced. Romania has a Human Development Index (HDI) of 0.785. Romania has a high HDI value. This suggests that the majority of citizens will be able to lead desirable lives while providing significant assistance and support to citizens with lower living standards. The Global Peace Index (GPI) for Romania is 1.542. Due to the strong presence of the law enforcement authorities and the high level of social responsibility, Romania is very safe in international comparison. The strength of the Legal Rights Index for Romania is 10. Overall, it is considered quite strong – bankruptcy and collateral laws are able to protect the rights of borrowers and lenders quite well; Credit information is plentiful and easily accessible.

Currency
The currency of Romania is Romanian leu. The plural form of the word Romanian leu is lei. The symbol used for this currency is lei, and it is abbreviated as RON. The Romanian leu is divided into Ban; there are 100 in one leu.

Credit rating
The depth of credit information index for Romania is 7, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, Romania has a credit rating score of BBB-, and the prospects of this rating are stable. According to the Fitch credit-rating agency, Romania has a credit rating score of BBB-, and the prospects of this rating are stable. According to the Moody's credit-rating agency, Romania has a credit rating score of Baa3, and the prospects of this rating are stable.

Central bank
In Romania, the institution that manages the state's currency, money supply, and interest rates is called National Bank of Romania. Locally, the central bank of Romania is called Banca Națională a României. The average deposit interest rate offered by local banks in Romania is 3%.

Public debt
Romania has a government debt of 42.5% of the country's Gross Domestic Product (GDP), as assessed in 2012.

Tax information
The corporate tax in Romania is set at 16%. Personal income tax ranges from 16% to 16%, depending on your specific situation and income level. VAT in Romania is 19%.