Number of companies having filed for insolvency increased with 7.69 percent at nine months of 2012

Coface Risk assessment company estimates a 0.5 percent economic growth for Romania in 2012 and an economic decline of 2 percent in the third quarter of this year, compared with the same period of 2011, Coface Romania Country Manager Constantin Coman told a press conference this week.

He said that the Romanian economy had a poor performance in the third quarter, the statistics showing that industrial production and exports fell and consumption stagnated. Moreover, the decrease in the third quarter is also caused by the base effect, the period last year having registered a very good performance in agriculture.

For 2013, Coface forecasts a moderate economic growth standing between 1 and 1.5 percent.

The second budget revision for 2012, conducted by the Government in late October, was based on an economic growth revised down to 1 percent, compared with the 1.2 percent considered in the first budget revision in August 2012, while the initial budget was built on a growth of 1.8 - 2.3 percent for 2012.