Romanian companies had outstanding debts to suppliers totaling RON 56.5 billion (EUR 12.4 billion) in 2015, according to a survey by KeysFin.

In 2016, the overdue payments remained at a level similar to the previous years, despite the tax cuts and high economic growth based mainly on consumption. The companies’ arrears to suppliers remained around the record level of over RON 50 billion in the last years.

In 2016, almost 76,900 companies recorded outstanding payments to suppliers. They represented 12% of the total number of firms in Romania and accounted for 33% of the total turnover in the Romanian economy.

Of the total overdue amount, almost half belonged to companies with Romanian capital (RON 25.6 billion), followed by foreign firms (RON 11.95 billion), firms with mixed capital (RON 7.95 billion), and state-owned firms (RON 7.33 billion).

The total amount of outstanding payments in economy, which are below one year and include the debts to the state budget, reached RON 268.8 billion (EUR 59 billion) in 2015.

editor@romania-insider.com