Number of insolvencies in Romania declines Coface.

By bne IntelliNews June 14, 2012
The number of Romanian companies filing for insolvency is expected to decrease this year after shrinking in all economic sectors in the first quarter of 2012, credit insurance advisory firm Coface was quoted as saying by Mediafax. In the first three months of the current year, the number of insolvency cases saw the sharpest decrease in the past five years, Coface said. The expectations for this year are based rather on the cycle effects than on the current economic circumstances because a significant number of companies have already closed down in the past years, the firm's macroeconomic analyst Iancu Guda explained. The number of firms in insolvency [at different stage] decreased by 34.65% y/y in Q1 this year, according to a Coface study based on data supplied by the Trade Registry.

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