Econ Crisis Will Kill Some 40% Of Romanian SMEs – SME Min

The Romanian minister in charge with small and medium sized enterprises (SMEs), commerce and the business environment, Constantin Nita, said Thursday some 40% of SMEs will have problems this year and could go bankrupt because of the economic crisis.

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"I would hate to be pessimistic, but this will be a very tough year and there will be many SMEs that will go bankrupt. The reduction in demand, local and foreign, the lack of liquidity on the market, the lack of lending conditions will cause problems for all SMEs,” Nita said.

Asked how many SMEs will be able to survive the crisis, Nita said that, in his opinion, between 30% and 40% will have problems and “will surely not withstand the shock of the crisis.”

According to statistics of the ministry, in Romania, at the moment, there are some 600,000 SMEs.

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