Over the past five years, banks preferred to book provisions for bad loans, but now they lack internal resources. Shareholders face pressure to increase share capital, but they too lack the needed money, Borza explained.
He added that the number of insolvencies will surge spectacularly in 2013, especially in the manufacturing and retail sectors.
Some 90,000 Romanian firms entered insolvency since the beginning of the crisis, of which 16,404 last year alone.
The number of insolvencies saw a constant increase from 2008 until 2010. A total of 14,000 firms filed for insolvency in 2008, 19,900 firms in 2009 and 21,700 firms in 2010.
Over 70% of firms that halted their business activity in 2012 operated in the trade, transport, storage, construction and the processing industry sectors.