In Hungary 45 Companies a Day Enter Bankruptcy
Company bankruptcies in Hungary have reached epidemic proportions. Even though faced with a large number of bankruptcies and a severe decline in the local car market, investors continue to buy Hungary’s state bonds.
Difficult situation in which is Hungary’s economy, affected by a severe recession, made that the number of companies from the position of liquidation to achieve the highest level in the history of the country, in May, quoted by a local publication Hungarian.
The annual rate of firms in liquidation increased by 51 percent last month, the number of companies affected reaching 1. 330 units, that is, on average, in Hungary entered in bankruptcy about 45 companies each day.
Also, in May in Hungary were created 3296 new companies. The number of firms that are in liquidation, during the period January to May increased by 29%, compared to the same period of 2008.