20008
telephone: [1] (202) 332-4846, 4848, 4851
FAX: [1] (202) 232-4748
consulate(s) general: Los Angeles and New York

Diplomatic representation from the US:
chief of mission: Ambassador James C. ROSAPEPE
embassy: Strada Tudor Arghezi 7-9, Bucharest
mailing address: American Embassy Bucharest, Department of State,
Washington, DC 20521-5260 (pouch)
telephone: [40] (1) 210 01 49, 210 40 42
FAX: [40] (1) 210 03 95
branch office: Cluj-Napoca

Flag description: 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

Economy-overview: Romania, one of the poorer countries in the region,
is continuing its difficult transition to a market-based economy.
After the collapse of the Soviet Bloc in 1989-91, Romania was left
with an obsolete industrial base and a pattern of industrial capacity
wholly unsuited to its needs. For the next few years the country
lagged behind most of its neighbors in the pace of restructuring. Then
in February 1997, Romania embarked on a comprehensive macroeconomic
stabilization and structural reform program. The domestic foreign
exchange market was freed, and controls on current-account
convertibility were removed in October. Restructuring programs include
liquidating large energy-intensive industries, and agricultural and
financial sector reform. The private sector share of GDP rose to an
estimated 58% in 1997, however, this total includes firms with
government-held minority stakes. Although progress has been made in
privatizing small- and medium-sized firms, delays in structural
reforms-including the postponement of sales of large state-owned
enterprises - threaten plans to revive GDP growth. In 1998, GDP will
likely be unchanged; and inflation is projected to fall to 45% from
151% in 1997.

GDP: purchasing power parity-$114.2 billion (1997 est.)

GDP-real growth rate: -6.6% (1997 est.)

GDP-per capita: purchasing power parity-$5,300 (1997 est.)

GDP-composition by sector:
agriculture: 19%
industry: 36%
services: 45% (1996)

Inflation rate-consumer price index: 151% (1997 est.)

Labor force:
total: 10.1 million (1996 est.)
by occupation: industry 28.6%, agriculture 34.4%, trade 10.4%,
construction 5.1%, other 21.5% (1995)

Unemployment rate: 8.8% (1997 est.)

Budget:
revenues: $10 billion
expenditures: $11.7 billion,