US diplomatic representation: chief of mission: Ambassador Alfred H. MOSES embassy: Strada Tudor Arghezi 7-9, Bucharest mailing address: American Consulate General (Bucharest), Unit 1315, Bucharest; APO AE 09213-1315 telephone: [40] (1) 210 01 49, 210 40 42 FAX: [40] (1) 210 03 95 branch office: Cluj-Napoca
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 flags of Andorra and Chad
@Romania:Economy
Overview: Despite the continuing difficulties in moving away from the former command system, the Romanian economy seems to have bottomed out in 1993-94. Market oriented reforms have been introduced fitfully since the downfall of CEAUSESCU in December 1989, with the result a growing private sector, especially in services. The slow pace of structural reform, however, has exacerbated Romania's high inflation rate and eroded real wages. Agricultural production rebounded in 1993 from the drought-reduced harvest of 1992. The economy continued its recovery in 1994, further gains being realized in agriculture, construction, services, and trade. Food supplies are adequate but expensive. Romania's infrastructure had deteriorated over the last five years due to reduced levels of public investment. Residents of the capital reported frequent disruptions of heating and water services. The slow and painful process of conversion to a more open economy will continue in 1995.
National product: GDP - purchasing power parity - $64.7 billion (1994 est.)
National product real growth rate: 3.4% (1994 est.)
National product per capita: $2,790 (1994 est.)
Inflation rate (consumer prices): 62% (1994)
Unemployment rate: 10.9% (December 1994)
Budget:
revenues: $8.3 billion
expenditures: $9.4 billion, including capital expenditures of $NA
(1995 est.)