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Romania’s Banks Should Be More Flexible With Cos’ Installments

Romania’s banks should be more indulgent with companies on the payment of their loan installments, Constantin Nita, the Minister of SMEs, Commerce and Business Environment, adding that the local banking system is not flexible with the current market.
Romania’s Banks Should Be More Flexible With Cos’ Installments
17 feb. 2009, 14:59, English

He said in a press conference that the Government took several measures to support companies, including creating a fund to counter-guarantee the loans taken by the small and medium-sized enterprises, but banks continue to be reserved in granting funds.

He expects a “crisis package” from all the banks the ministry collaborates with, adding that the companies in the construction and industry fields are the ones most affected by the recent economic turmoil.

"These sectors are the most important ones due to their contribution to Romania’s gross domestic product. We are trying to compensate their fall with other sectors, as the trade and services, and to apply some fiscal measures aiming to encourage constructions and industry," Nita said.

According to him, there is no statistic showing the current situations of SMEs undergoing bankruptcy.