Romania joined the European Union on 1 January 2007, and the IMF has praised
the country's recent reform efforts. 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 which saw the economy
grow by 6.4% in 2006.
Romania is situated to the southeast of Central Europe and to the north of
the Balkan Mountains. The population of Romania is just under 22 million and
the official language is Romanian - the only language of latin origin in Eastern
Europe.
Romania's territory is approximately 238,931 sq kilometres, approximately half
that of France. The country is bisected by the Carpathian mountain chain, an area
rich in mystery where castles, fortresses and churches emphasise the natural beauty
of the region.
The lower Danube crosses Romania and forms a natural border with Serbia and
Bulgaria. In the eastern part of the country the mouth of the Danube forms a
delta which is unique in Europe for the unique richness of its flora and fauna.
Romania is divided into 41 districts each led by a prefect named by the
government. Bucharest the capital is one of Europe's most populated cities with
a population close to 2.5 million.
The Romanian economy is still passing through a difficult period of transition
after nearly 60 years under communist regime. Last year (2006), Romania experienced
its most successful year to date for inward investment. Big-name players such
as General Electric, Hewlett-Packard, Microsoft, Samsung and Unilever established
operations in the country in anticipation of the trading benefits that would
be derived after EU accession.
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