600px-Flag_of_Romania.svg Romania

Political system

The first state organization of Romanian appeared after the two Danubian principalities of the Ottoman Empire, Wallachia and Moldavia, got united under the personal union of Alexandru Ioan Cuza in 1859. In 1878 Romania managed to gain independence and after the First World War united with Transylvania, Bessarabia and Bukovina to form Greater Romania.

The current constitution was voted in a referendum in 1991 and amended in 2003, establishing a unitary semi-presidential republic with a bicameral parliament – Senate and Chamber of Deputies. The MP mandate is of four years, elected in a single-round first past the post electoral system, with a 5% threshold for parties, and (5+3+n)% for alliances (where n represents the number of the parties forming the alliances composed of more than two). Moreover, a number of seats are automatically allocated for each recognized national minority (17 seats in total).

The Government is, together with the President, part of the executive power. The president appoints the prime-minister, who in turn has to form the cabinet, which is responsible to Parliament. In the same time, the Parliament can withdraw the support by a no-confidence vote. The president cannot dismiss the prime-minister, nor the members of the cabinet.

The President is directly elected in two rounds (if one candidate receives the majority of votes of electors entered on the electoral list he is elected in the first round). Initially, the presidential mandate was of 4 years and the elections were concomitant with the legislative elections. Starting with the 2003 constitutional reform, the presidential mandate was extended to 5 years. The role of the president is that of a mediator, with prerogatives in the foreign and defense policies.

The Constitutional Court is a judicial body which verifies the conformity with the Constitution of the laws, decrees or bills issued by the Romanian authorities. It is formed by 9 members, appointed by the President, Senate and Chamber of Deputies (each institution appoints three members). The mandate is of nine years and every three years three members are renewed.

The Ombudsman (People’s Advocate) is an institution responsible with investigating different complaints made by citizens in relation to governmental institutions’ activity. It is part of the Government.

Parties

Partidul Social Democra

Social Democratic Party / Partidul Social Democra Ideology: social-democracy European Parliament group: Progressive Alliance of Socialists and Democrats Parliament members...

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National Liberal Party

National Liberal Party Ideology: liberalism European Parliament group: Alliance of Liberals and Democrats for Europe Parliament members (2012-):  119/588 European...

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Liberal Democratic Party

Liberal Democratic Party Ideology: liberal conservatism European Parliament group: European People’s Party Parliament members (2012-):  52/588 European Parliament members (...

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People’s Movement Party

People’s Movement Party (PMP) Ideology: liberal/christian democracy European Parliament group: European People’s Party Parliament members (2012-):  16/588 European Parliament members...

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Democratic Union of Hungarians in Romania (DUHR)

Democratic Union of Hungarians in Romania (DUHR) Ideology: liberal conservatism/Hungarian minority interests European Parliament group: European People’s Party Parliament members...

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The National Union for the Progress of Romania (NUPR)

The National Union for the Progress of Romania (NUPR) Ideology: social democracy European Parliament group: European People’s Party Parliament members...

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Latest polls

42,6% % PSD
31,5 % % PNL+PDL
7,1% % PMP
5,8%% UDMR
4,4% % PLR

Macroeconomic data

  • GDP Q/Q:

    Q4 2013 – 1.8%

    Q1 2014 – 1.6%

    Q2 2014 – 0.2%

    Q3 2014 – 0.9%

  • GDP/Capita:

    14,400 USD (2013)

    $13,700 USD (2012)

    $13,600 USD (2011)

  • Inflation Rate (Y/Y):

    June 2014 – 0.7%

    July 2014 – 1.0%

    August 2014 – 0.8%

    September 2014 – 1.5%

  • Budget deficit:

    2010 – 6,5%

    2011 – 4,1%

    2012 – 2,9%

    2013 – 2,5%

     

  • Public debt:

    2010 – 30,5%

    2011 – 34,7%

    2012 – 37,9%

    2013 –  38,7%

     

  • Unemployments (monthly):

    May 2014-7.3%

    June 2014-7.1%

    July 2014-7.0%

    August 2014-7.1%

    September 2014-7.1%

  • Export netto / GDP:

    2010 -35,4%

    2011 – 37%

    2012 – 37,8%

    2013 -42,2%

Key companies

Arcelor Mittal Galati

Industry: steel works/tubular products Headquarters: Strada Smardan Nr. 1 800698, Galati, Romania CEO: Bruno Ribo Share Holders: Arcelor Mittal Holdings...

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ALRO Slatina

Industry: aluminium production Headquarters: str. Pitesti nr. 116, SLATINA, jud. OLT CEO: Gheorghe Dobra Share Holders: Vimetco N.V. loc. Amsterdam...

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Silcotub SA  

Industry: steel pipes Headquarters: Bd. Mihai Viteazul nr. 93, cod 450131, Zalău, jud. Sălaj CEO: Michele Della Briotta Share Holders:...

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OMV Petrom S.A

Industry: Exploitation, production and refining of natural gas and oil Headquarters: Str. Coralilor nr. 22, "Petrom City", sect. 1, cod...

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Rompetrol Rafinare S.A.

Industry: Refining crude oil Headquarters: Piata Presei Libere, nr. 3-5, City Gate Northern Tower, Et. 2, Bucuresti, Cod Postal 011028, Romania...

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Romgaz S.A.

Industry: production of natural gas Headquarters: Piaţa C. I. Motaş nr. 4, cod 551130, Mediaş, jud. Sibiu Chairman of the...

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Dacia

Industry: Manufacture of motor vehicles Headquarters: Str. Uzinei nr. 1, cod 115400, Mioveni, jud. Argeş  Chairman of Board of Directors...

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CFR – Calatori S.A.

Industry: railway transport Headquarters: Bd. Dinicu Golescu nr. 38, sect. 1, cod 0110873, Bucureşti Chairman of Board of Directors: Alexandra...

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E-On Gaz Romania

Industry: gas distribution Headquarters: Str. Justiţiei nr. 12, cod 540069, Tîrgu Mureş, jud. Mureş Chairman of Board of Directors :...

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Banca Comerciala Romana S.A.

Industry: banking/financial services Headquarters: Bd. Regina Elisabeta nr. 5, sect. 3, cod 030016, Bucureşti Chairman of the Supervisory Board: Tomas...

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BRD

Industry: banking/financial services Headquarters: Bd. Ion Mihalache nr. 1-7, Turn BRD, sect. 1, cod 011171, Bucureşti Chairman of the Supervisory...

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Richest

1. Ioan Niculae –  1,1 bln EUR. He is owner of Interagro – agriculture company, and FC Astra Giurgiu, a top Romanian fotball club)

2. Ion Țiriac – 1 bln EUR.  He owns 45% of UniCredit Tiriac Bank, one of the country’s top five lenders, and 44.5% of Allianz-Tiriac Asigurari, one of the largest insurance companies in Romania.

3Frank Timiș – 650 mln EURHe created  the Gabriel Resources, the company which holds the rights for the gold exploitation in Romania’s Rosia Montana. He sold the company many years ago to Canadian and American investors and now he is investing in Africa.

4. Dan Grigore Adamescu – 550 mln EUR. He manages several insurance companies, owner of a press holding and of several shopping malls. He lost his status as one of the most discrete businessmen in Romania after he was dragged to the National Anticorruption Directorate (DNA).He is accused of bribing judges to get favorable sentences for his companies.

5. Veronica Gusa de Dragan – 550 mln EUR. She controls the Butan Gas LPG business.