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Romania, bank lending to private sector dropped by 26 pc
In 2016 a total of USD 50 bln lent to companies,study
29 September, 10:31
(ANSA) - BUCHAREST - Bank lending to the Romanian private
sector were 26 percent lower than it was before the financial
crisis, hampering the return to economic growth, reveals a new
study by UHY, the international accounting and consultancy
network, as The Romania Journal reports.
Last year, a total of USD 50 billion was lent to the companies in Romania, down from USD 70 billion in 2008.
By contrast, on average across all the 24 countries studied around the world, private sector bank lending increased by 24 percent over the same period in absolute terms.
UHY study points out that the bank lending to companies increased in the run-up to Romania's accession to the EU in 2006, but continued to decline due to the lack of confidence of the banking and business sectors in the economy on long-term.
Moreover, many expectations of economic growth assumed before EU accession have not been met. (ANSA).
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Last year, a total of USD 50 billion was lent to the companies in Romania, down from USD 70 billion in 2008.
By contrast, on average across all the 24 countries studied around the world, private sector bank lending increased by 24 percent over the same period in absolute terms.
UHY study points out that the bank lending to companies increased in the run-up to Romania's accession to the EU in 2006, but continued to decline due to the lack of confidence of the banking and business sectors in the economy on long-term.
Moreover, many expectations of economic growth assumed before EU accession have not been met. (ANSA).
