Romania has over 100,000 companies that have negative capital, no sales and no employees, Eugen Radulescu, director within Romania’s National Bank (BNR), said on Saturday, September 30.

The number of companies without employees amounts to 263,700. They have debts of almost RON 160 billion (EUR 35 billion), reports local News.ro.

There are also 164,000 companies with zero turnover and their debts amount to RON 105.6 billion (EUR 23 billion).

"Companies with zero turnover probably sell and don’t record their sales," Radulescu said.

Moreover, Romania has 276,500 companies with equity below the regulated limit, with debts of RON 355.7 billion (EUR 77.3 billion).

Local companies’ capitalization deficit increased by 3.7% in 2016 over the previous year.

editor@romania-insider.com