Editing Economy of Romania (section)

===EU membership (2007)===
{{Main|Romania and the euro}}
{{Euro accession map}}
On 1 January 2007 Romania and Bulgaria entered the EU, giving the Union access to the [[Black Sea]]. This led to some immediate international trade liberalisation. Romania is part of the European single market which represents more than 447 million consumers. Several domestic commercial policies are determined by agreements among European Union members and by EU legislation. This is to be contrasted with enormous [[List of countries by current account balance|current account deficits]]. Low [[interest rate]]s guarantee availability of funds for investment and consumption. For example, a boom in the [[real estate market]] started around 2000 and has not subsided yet. At the same time annual inflation in the economy is variable and during the mid-2000s (2003–2008) has seen a low of 2.3% and high of 7.8%.

Romania adopted 1 January 2005 a [[flat tax]] of 16% to improve tax collection rates. Romania subsequently enjoyed the lowest fiscal burden in the European Union, until Bulgaria also switched to a flat tax of 10% in 2007. Since 2018 the flat rate was lowered to 10%.

Romania posted 6% economic growth in 2016, the highest among European Union member states. According to Bloomberg, the country's economic growth advanced at the fastest pace since 2008.<ref>{{cite web|url=http://www.business-review.eu/news/eurostat-romania-posts-biggest-economic-growth-in-eu-in-2016-q2-115455|title=Eurostat: Romania posts biggest economic growth in EU in 2016 Q2|date=12 August 2016|website=Business-Review.eu|access-date=24 September 2017}}</ref> It is now considered the next tech-startup hub country in EU. Nowadays, that Romania's digital infrastructure ranks higher than other eastern and central European countries makes it an attractive place to start a tech business.<ref name="qz.com">{{cite web|url=https://qz.com/763630/one-of-the-poorest-countries-in-the-eu-could-be-its-next-tech-startup-hub/|title=One of the poorest countries in the EU could be its next tech-startup hub|website=QZ.com|date=23 August 2016 |access-date=24 September 2017}}</ref>