The number of insolvencies has increased five-time in Romania in the past ten years after the financial crisis, according to latest statistics released by CTIR (former Casa de Insolventa Transilvania) on Tuesday. Most affected companies are from the industry, services and real estate sectors.
Romania reported 16,499 new insolvencies in 2008, while the forecast for the end of 2018 is around 8,300, thus half of the number reported ten years ago. At the same time, during 2016-2018, the number of companies that face insolvency on an annual basis has become constant, ranging from 8,300 to 8,600.
During the same period of time, the number of impact companies (whose assets exceed EUR 1 million) that are close to insolvency has stabilised to 175-200.
In terms of companies close to insolvency annually, Romania has a share of 0.99%, in line with the European states.
The sectors that have been constantly topping the insolvency rankings during 2016-2017 are industry (48% in 2017), services (17%) and real estate (15%). They still remain exposed.