Thus, payment delays of over 30 days of individuals and companies fell by more than one percent in June from the May level, to RON 5.5 billion (€1.3 bln). However, compared to the end of 2008, arrears surged 92 percent, and more than tripled in the June 2008-June 2009 period.
“I do not know if the downward trend of arrears will continue but these will certainly stabilize because banks have cut interest rates and the exchange rate remains at a solid level. However, the main threat continues to be unemployment, which is rising,” the Chief Economist of Raiffeisen Bank, Ionut Dumitru, told Business Standard.
According to BNR data, the highest arrears in June were registered in Bucharest (RON 1.6 bln), Brasov (RON 275 million), Timis (RON 236.3 mln), Cluj (RON 234 mln) and Constanta (RON 168 mln) counties. The lowest level of arrears was registered in Caras-Severin (RON 37 mln), Covasna (RON 30 mln), Giurgiu (RON 29.2 mln), Gorj (RON 29 mln), and Tulcea (RON 19.4 mln).
