Finance of Romania
The minimum monthly wage in Romania is 481 USD. Romania has a government debt of 42.5% of the country's Gross Domestic Product (GDP), as assessed in 2012. With regard to consumer prices, the inflation rate in Romania is 3.2%. 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. Each year, consumers spend around $101,103 million. The ratio of consumer spending to GDP in Romania is 0.05%, and the ratio of consumer spending to the world consumer market is 29.15%. 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%.
Gross Domestic Product
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Romania is $393,830 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Romania was last recorded at $20,113,240. PPP in Romania is considered to be very good when compared to other countries. Very good PPP indicates that citizens in this country find it easy to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with very good PPP are safe locations for investments. The total Gross Domestic Product (GDP) in Romania is 192,094 billion. Based on this statistic, Romania is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Romania was last recorded at $9,810,408. The average citizen in Romania has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries. Countries with very high wealth offer opportunities for safe investments, as they are often supported by a diverse and thriving financial sector. GDP Annual Growth Rate in Romania averaged 2.4% in 2014. According to this percentage, Romania is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly.