The leasing market in Romania declined by 2.6 percent last year
to €4.8 billion, down from €4.9 billion in 2007, according to new
data from ALB Romania, the country’s association of financial
companies.
ALB Romania attributes this decline to the introduction of a
pollution tax for cars, as well as the widespread economic crisis.
In November last year, the association forecasted that the market
would reach €5.5 billion, or an 11 percent increase
year-on-year.
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The decline is a big shock for leasing companies who had seen
the leasing market grow by 51 percent in 2007.
“The local leasing market increased until the first half of last
year and then reduced its value each quarter,” the ALB said.
Indeed, in the fourth quarter of 2008 the leasing market dropped
60 percent, with financed assets only reaching €537.4 million.
Overall, real estate was the hardest hit, with a 24 percent
decline on the previous year. Equipment leasing also fell, by 4
percent year-on-year; while automotive leasing bucked the trend,
seeing the market rise by 1 percent, to €3.4 billion.
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