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The GDP growth rate in the context of the World Development Indicators (WDI) refers to the annual percentage increase or decrease in a country's Gross Domestic Product (GDP), adjusted for inflation. The WDI is a comprehensive database maintained by the World Bank that tracks various economic, social, and environmental development indicators across the globe.
Key Takeaways
Romania GDP Growth (1991-2023)
Romania’s post-communist transition led to initial GDP declines, with -12.9% in 1991. Economic reforms and EU accession in 2007 fueled growth, peaking at 8.0% in 2006 and 9.3% in 2008. The 2009 financial crisis led to a -5.5% contraction, but Romania recovered steadily, with growth rates around 4-5% in the late 2010s. The COVID-19 pandemic caused a -3.7% decline in 2020, followed by a recovery to 5.7% in 2021. Growth has since stabilized, with a 2.1% rate in 2023 amid regional and global challenges.
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