The real market educators in Romania were crises, companies went through an education process and are wiser now, said Eugen Anicescu, country manager Coface Romania, at a press conference. “Realistically speaking, I think the real educators of the Romanian market were crises. The year 2007 showed the picture of business in Romania, 2022 is showing a different business picture. You know we have ‘Romania SRL’ every year. If we gather balance sheets of companies in Romania we say every year that we see no improvement of ‘Romania SRL’. It seems that there is a continuous wear and tear of business. But beyond this picture and figures, the reality is that business is today stronger than 12, 15 or 25 years ago. Why? Because companies went through an education process and they are wiser , more professional,” Anicescu said, according to ActMedia.eu.
He said that making prognoses had become an extreme or impossible sport, because there are many elements which belong to human, political, geostrategic decisions or state interventions.
“In the last two years we went from better to exceptional. What does exceptional mean? It means that in 2020 we went through a recession induced by an immediate economic close down, followed by a rapid economic growth determined by an unprecedented intervention of states, then an inflation process started which began last year, determined by the pandemic crisis,” Anicescu said.
In recent years, Coface Romania analysts noticed a constant increase of the average deadline of cashing commercial debts: in 2020 consolidated at economy level, the average payment deadline of bills to suppliers reached 117 days, the double of what is was ten years ago. That thing was also reflected in the average cashing time which also doubled.
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