Mazars Consultancy Says Romania Less Exposed to Crisis than Bulgaria – Media

"Bulgaria has an enormous current account deficit and tries to cover it mainly through investments in real estate and tourism. The investments stopped now, as lending in the real estate sector is in crisis," Business Standard quoted Mazars Romania managing partner Jean-Pierre Vigroux as saying.

He said that Romania is more dependent on car production than on the real estate sector.

Falling demand in Romania and abroad led to a crisis in the country's automotive industry. Local car producer Dacia, a unit of France's Renault, suspended production for most of December. The halt also triggered production suspensions in Dacia's local suppliers of car parts.

Mazars is a French independent company specialised in audit, accounting, tax and advisory services. Mazars employs 10,500 and operates in 50 countries around the world.