Romanian companies owe EUR 15 bln to state budget

Debt

Photo by Albert Zoltan / Shutterstock.com

Companies in Romania continue to pile up debts to the state budget, although pressure on cash flow has decreased compared to the first quarters of the crisis and the managers' confidence in the economy is growing, according to CITR, the leader of the restructuring market in Romania.

Romania-insider reported that over 7,000 Romanian companies have debts of over RON 1 million (EUR 205,000) to the state budget.

The aggregate value of their outstanding debts amounts to RON 73 billion (EUR 15 billion, or over 6% of GDP), shows an analysis made by CITR based on data from Termene.ro. Two-thirds of these companies are in insolvency or bankruptcy. 

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