Coface estimates that a total of 23,000 insolvency proceedings will be opened in 2014, down 15% compared to the previous year, according to Iancu Guda, Coface macroeconomic analyst, cited by local Capital.

He added that over 12,400 insolvencies were opened in the first half of this year, a 10% decrease year-on-year. A total of 13,855 new insolvency proceedings were opened in the same period of 2013.

Fewer Romanian companies entered insolvency in first seven months.

Irina Popescu, irina.popescu@romania-insider.com