Romania sees biggest drop in insolvencies in the region

Romania had the highest decrease in the number of insolvencies in Central and Eastern Europe (CEE) last year, according to a Coface survey. The country recorded a drop of 50% in the number of insolvencies, due to significant tax incentives. Ukraine, on the other side, saw a 20.8% increase in the number of companies that entered insolvency, during another recession year and amid ongoing conflict with Russia. The construction sector benefitted from projects cofinanced by the European Union, but the payment behavior was still weak, and construction companies remain present in insolvency statistics. Last year, almost 1% of the companies active in the CEE region filed for insolvency. editor@romania-insider.com