Report: Romanian state companies are worse debt payers than private firms
State companies in Romania fail to pay their commercial debts more often than private companies, according to a recent report from the Romanian Central Bank (BNR), quoted by Hotnews.ro. The rate of nonpayment such debts is of 15% for…
Romania Insider · Journalist
· Updated · 1 min read
State companies in Romania fail to pay their commercial debts more often than private companies, according to a recent report from the Romanian Central Bank (BNR), quoted by Hotnews.ro. The rate of nonpayment such debts is of 15% for private firms, and of 44% for state-owned companies. Construction, agriculture and real estate companies have the highest nonpayment rates – 21, 19 and 19%, respectively. Meanwhile, Romania had 10.7% more insolvent companies in 2013, some 29,500 firms. The rate of non-performing loans was up 2.5% between December 2012 and August 2014, to 22%, but it is expected to go down as banks will remove bad loans from their balance sheets. The full report from BNR is here - in pdf, in English. editor@romania-insider.com
