Country Essentials Romania
Following a sharp slowdown in 2014, there should be a slight improvement in economic activity and moderate growth in 2015.
In 2015, the internal demand will be boosted by the relaxation in the fiscal policy following a reduction in social contributions, a VAT reduction, from 24 to 9% for agro food products in June 2015, and a revaluation of pensions and public sector wages. The consumption will be stimulated by income from the private sectors, by households with low and medium income that benefit from assistance programs.
However, despite the better performance of consumer dependent sectors, the retail companies are among the most affected by insolvencies in 2015. Their share in total bankruptcies* is equal to 23%. This percentage results from the high number of retail entities within the overall structure of Romanian companies. The business sector, as well as the retail industry, is still suffering from long receivable collection terms, up to 90 days.
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