Transport Ministry announces it has sent to Brussels the financing request for Sibiu – Pitesti highway
The Transport Ministry, as the Intermediate Body in Transport, approved the financing request for the project “Construction of Sibiu – Pitesti highway”, Sections 1, 4… Mai mult›
(The map of investment financed through Juncker Plan, by GDP share. Darker colours mean higher shares) The operator of national natural gas pipelines, Transgaz (TGN)… Mai mult›
Lack of trust in authorities, corruption and low living standards are the main reasons why young people leave Romania. The data is part of a… Mai mult›
Massive increase in import of electricity, stimulated by government policy: 38% in first five months. Trend continues
Romania imported 38% more electricity in the first five months of this year, compared to the same period of 2018, according to the most recent… Mai mult›
The Ministry of Public Finance announces that it has issued the methodological norms for the implementation of the Program for supporting small and medium-sized enterprises… Mai mult›
Company insolvency, set on an upward trend in 2018, caused losses of RON 9.6 billion in 2017: ONRC statistics
de Adrian N Ionescu , 23.4.2018
The number of companies and authorized natural persons (PFA) which have declared insolvency increased by 19.31% in the first quarter of 2018 compared to the same period in 2017, to 2,305, according to data published on the website of the National Trade Register Office (ONRC), mentioned by Agerpres.
Most companies and PFAs declared insolvency in Bucharest: 445 (up 18.66%), followed by Bihor county, 148 (29.82%), and Iasi, 144 (+29.73%).
By field of activity, the highest number of insolvencies has been recorded in the wholesale and retail trade, repair of motor vehicles and motorcycles – 697 (+ 25.59%).
Also, between January and March 2018, 5,725 companies have suspended their activity (+ 42.98%) and 9,793 were dissolved, which represents a 60.83% increase.
Insolvencies in Romania remain at twice the average in the Central and Eastern Europe (CEE), according to the data provided by Coface officials in February.
Year 2017 has brought 8,256 new insolvency processes, up 3% from 2016, when 8,053 new processes have been registered.
The level of losses caused by insolvent firms in 2017 amounted to RON 9.6 billion, up 13% compared to the level of RON 8.5 billion recorded a year ago.
Despite the minimum level reached in the last 15 years, Romania reports an average level of insolvent companies related to 1,000 active companies of 2.4%, which is almost twice the average in the Central and Eastern Europe.
The number of jobs reported by insolvent companies in 2017 amounts to 47,578, 32% lower than last year.
The three major mistakes made by companies that have defaulted are poor financing of investments, wrong investments and aggressive dividend policy.