In the first quarter of 2006, the number of companies going bankrupt went up 15% while in Romania it topped 54%, and a Romanian produces 2.4 times more than a Romanian, according to a Coface study. The Coface study was presented jointly by Romania and Hungary on the occasion of the Romanian- Hungarian Forum in Cluj Napoca, in mid June.
Despite the larger number of inhabitants, Romania’s GDP is 79.3 billion Euros compared to Hungary’s 87.8 billion Euros GDP, while the GDP/capita stands at 3,660 Euros in Romania and 8,700 Euros in Hungary.
The study estimates that Romania’s GDP will increase 1.5% more than Hungary’s in the following 2 years. The exports valued at 50 million Euros in Hungary exceed Romania’s 22 million Euros exports.
The macroeconomic situation in Hungary will keep an ascendant trend based on the investments in the private sector, the raise of minimum salary, the European funds and the population’s venues following the drop of VAT from 25% to 19%.
In Romania, the direct foreign investments went up and were forecast to reach 9 billion Euros in 2006. In Hungary, the foreign direct investments reached 1.7 billion Euros before the accession time in 2002 and 2003, following the record figure of 4.4 billion Euros in 2001.
60% of the Romanian companies expect an increase of the sale for the consume goods, pharmaceutical products and industry.
In Hungary, one in 30 companies goes bankrupt every year, and the number increase 15% in Q1 2006, mainly due to the payment deadlines that affect 96% of the companies.
In Romania, there were 3500 bankrupt companies in 2005, with the most accelerated rhythm of bankruptcy (+54%).