Trademagazin > News and articles > Market News > Euler Hermes: How many companies can become insolvent this year
Euler Hermes: How many companies can become insolvent this year
Due to the brutal economic shock caused by the pandemic, the number of corporate insolvencies will increase by 20-25 percent globally this year, but each economic region will suffer from the crisis to a very different extent – Euler Hermes credit insurance analysts said. In Hungary, a decrease in GDP of at least 3, but even 7 percent is conceivable and the number of insolvencies will increase by 13 percent.
Euler Hermes, Hungary’s leading credit insurer, analyzed the impact of the coronavirus pandemic on corporate insolvency. The Hungarian economy grew by 4.9 percent last year, and in the first quarter of 2020, produced an increase of 2-3 percent compared to the same period last year.
Related news
The domestic economy grew by 1.1% in the first quarter
In the first quarter of this year, the performance of…
Read more >Croatian farmers demonstrate for the sixth day due to government measures aimed at curbing the swine fever epidemic
In Croatia, farmers are protesting for the sixth day due…
Read more >African swine fever is getting closer to Hungary’s southern border
In the middle of October, the presence of African swine…
Read more >
More related news >
Related news
The global food price decline has stopped
In recent months, global food markets have shown only minor…
Read more >Surprising price drop in the Hungarian pensioners’ price basket
According to the May data of the Mfor Pensioners’ Price…
Read more >A cashier-free shop sells gastronomic products from catch-up settlements
Currently, the country’s only fully automated store operating without a…
Read more >