Romania’s incidence of insolvencies is over three times higher compared to the average in the region, amounting to 23 insolvencies per 1,000 companies, said Iancu Guda, Coface Romania Services Director.

Only Serbia does worse than Romania for the incidence of insolvencies, reports local Economica.net.

Poland, by comparison, has four times more active companies that Romania but had fewer than 1,000 insolvent companies in each of the last ten years.

The number of insolvent companies in Romania in one year is almost equal to the total insolvencies in Poland in ten years, said Guda. Companies in Poland continue to benefit from a positive macroeconomic environment, a strong domestic and foreign demand.

editor@romania-insider.com