fastest way to obtain that was through foreign direct investment (FDI). As of 2018, total FDI in Romania was 81 billion EUR, 63% of total (51 billion) are greenfield investments. Top ten FDI stock by country of origin in 2018 were: Netherlands (23.9%), Germany (12.7%), Austria (12.2%), Italy (9.5%), Cyprus (6.2%), France (6%), Switzerland (4.5%), Luxembourg (4.2%), Belgium (2.2%) and United Kingdom (2.1%). Investments in Romania The level of investment remains above EU average. Investment accounts for almost 25% of GDP in Romania as opposed to 19% of GDP in the EU, in 2016. EU membership (2007) 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 current account deficits. Low interest rates 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. 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. Economy GDP IMF for 2022 (October) published the following data: In the Romanian press the economy has been referred to as the "Tiger of the East" during the 2000s. Romania is a country of considerable economic potential: over 10 million hectares of agricultural land, diverse energy sources (coal, oil, natural gas, hydro, nuclear, and wind), a substantial, if aging, manufacturing base and opportunities for expanded development in tourism on the Black Sea