November 24, 2017

Insolvency in Romania at 20% of GDP – Danescu (ARB)

Florin Danescu, the CEO of the Romanian Association of Banks (ARB) said at a conference that the insolvency degree at national level is 20% of GDP, while active stock in Romania is 64% of GDP. He also said that “Structural funds are essential to cover the gap existing between Romania and the other European countries. We, the banks, and the other industries have in view a better dynamics of Romanian economy. If we record 20% insolvency of GDP at national level we must understand that such figures create generalized distrust and a restriction of the players’ participation in partnerships. 40% of nongovernmental credits is granted to small and medium companies, but only half of them qualify to receive credits. We thus understand the considerable need to capitalize companies in Romania”. According to the ARB representative, banks try to have an essential contribution to the absorption degree existing now. Florin Danescu said the free market involved risks but their elimination means getting out of the free market.

Source: Actmedia () Despite this, however, omnifocus works best with its companion further reading mac desktop application, which will unfortunately leave windows users out in the cold at this point

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