Econ Crisis Will Kill Some 40% Of Romanian SMEs - SME MinPublish date: 13-02-2009
The Romanian minister in charge with small and medium sized enterprises (SMEs), commerce and the business environment, Constantin Nita, said Thursday some 40% of SMEs will have problems this year and could go bankrupt because of the economic crisis.
"I would hate to be pessimistic, but this will be a very tough year and there will be many SMEs that will go bankrupt. The reduction in demand, local and foreign, the lack of liquidity on the market, the lack of lending conditions will cause problems for all SMEs," Nita said.
Asked how many SMEs will be able to survive the crisis, Nita said that, in his opinion, between 30% and 40% will have problems and "will surely not withstand the shock of the crisis."
According to statistics of the ministry, in Romania, at the moment, there are some 600,000 SMEs.
- Insurance market stagnated in 2013 while GDP chare dropped to 1.3%
- The Romanian Leasing Market as of December 31, 2013
- Millennium Bank reports best results since its launch, helped by stronger banking income and cost cuts
- BCR cheapens First Home loans and lowers interest loans for loans in lei
- Millennium Bank's new Salary account clients receive up to 600 lei bonus and their utility bills' payment
- GarantiBank and Seamless introduce SEQR in Romania: the newest mobile payment solution
- Bancpost telecom services, now provided exclusively by Romtelecom and COSMOTE Romania
- Millennium Bank cards offer discounts in Domo stores
- BCR Supervisory Board reshuffles Management Board
- NBR decide to lower the monetary policy rate to 4.25 percent per annum
- Common appointments in Romtelecom and COSMOTE Romania
- Up to 5.5% annual interest rate for Millennium Bank's promotional three-month lei deposit
- Eurozone in recovery mode but gap between North and South still widening
- UniCredit Tiriac Bank and RBS Romania announce the successful completion of the retail clients' migration
- Millennium Bank grants First House loans in lei