Since 2007, Romania has been a member of the European Union. Businesses relocate operations to Eastern Europe in search of a highly skilled and compassionate work force as well as a convenient and excellent business environment. The GDP growth (0.7% in 2012, 2.4% in 2013, and projected estimates of 2.8% for 2014 and 3.5 for 2015) and the declining spending deficit (from 1.3% in 2013 to an estimated 0.9% for 2014) indicate that the Romanian economy has been trending positively of late.
Every macroeconomic indicator shows a stable financial environment, with development perspectives that outpace those of other countries in the region. It is anticipated that interest in the framework and labor will increase following enhanced consumption of EU reserves, but growth will decline to roughly 3.2% by the end of 2014. The Romanian economy must, in the medium run, outperform that of several other EU countries, with a GDP growth rate of at least 5% between 2014 and 2016.
The duty motivators that Romania offers are extremely significant when compared to several of its European counterparts. Financial measures that benefited the IT sector include the 16% level duty pace on wages and corporate perks, the accelerated hardware depreciation plan, and cheaper yearly fees for IT representatives compared to other classes. Resources provided by the European Union to close the economic and social gaps between Romania and the more affluent members of the EU have also greatly improved the general state of the economy and, more specifically, the IT sector.
Various development initiatives and state and EU subsidies have been contributing to the accelerated modernization of the energy, water, and waste management systems, as well as the IT, street, and organization foundations. This has elevated the economic environment to a level of prosperity that attracts an increasing number of foreign investors.
