Editing Economy of Romania (section)

=== Communist period ===
{{Anchor|Economy during 1944–1989}}
{{main|Economy of the Socialist Republic of Romania}}
After 1945, Soviet-occupied Romania became a member of the [[Eastern Bloc]] and switched to a [[Soviet-type economic planning|Soviet-style]] [[command economy]]. During this period the country experienced rapid [[industrialisation]] in an attempt to create a "multilaterally developed socialist society". Economic growth was further fuelled by foreign credits in the 1970s, eventually leading to a growing foreign debt, which peaked at $11–12 billion.<ref>Klepper, Nicolae. ROMANIA An Illustrated History. NY:Hippocrene Books, Inc., 2002, page 230</ref>

Romania's debt was completely paid off during the 1980s by implementing [[Austerity in Romania|severe austerity measures]] which deprived Romanians of basic consumer goods. In 1989, before the [[Romanian Revolution]], Romania had a GDP of about 800 billion lei, or $53.6 billion.<ref name="cp2010-01-02">[http://standard.money.ro/articol_111865/dupa_douazeci_de_ani__economia_romaniei_in_1989.html După douăzeci de ani. Economia României în 1989] {{webarchive|url=https://web.archive.org/web/20091224142319/http://standard.money.ro/articol_111865/dupa_douazeci_de_ani__economia_romaniei_in_1989.html |date=24 December 2009 }}, 21 decembrie 2009, standard.ro, accesat la 2 ianuarie 2010</ref> Around 58% of the country's gross national income came from industry, and another 15% came from agriculture.<ref name="cp2010-01-02" /> The minimum wage was 2,000 lei, or approx. $57.<ref name="cp2010-01-02" />