Romania’s debt compared to its GDP dropped by 7% between 2007 and 2013.

This happened as a result of the companies’ debt reduction by 35%, according to the US consultancy group McKinsey & Company, reports local Wall-street.ro.

However, Romania’s government debt increased by 26% meanwhile. The consumers’ debt went up by 1%, while the financial sector’s debt dropped by 4%.

Romania ranks 39th among 47 countries for the national debt compared to the GDP. Its debt represented 104% of its GDP in 2013, the same level as in Turkey. Japan ranks first, with a debt amounting to 400% of the GDP.

editor@romania-insider.com