![]() Romanian troops occupied Bessarabia and Bukovina during the chaotic period of uncertain authority over the ex-imperial lands, forming the Romanian state in its modern form. Economic growth was stimulated by several milestones: the discovery and industrial exploitation of oil in 1857, the political union between Wallachia and Moldavia in 1859, land reforms, adoption of a local currency, the leu (1867), the state independence (1877), as well as the building of an extensive rail-road system under king Carol I.Īfter the dissolution of neighbouring Russian and Austro-Hungarian empires following World War I, Romanian-speaking provinces of Transylvania and Banat united with the Kingdom of Romania. The economy of Romania entered modernity with the Treaty of Adrianople in 1829, ending centuries of Turkish control.
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