The National Trade Association afraid of bankruptcy wave

According to Vámos György the Secretary-General of the National Trade Association, the damage caused by the two-digit VAT increase will bankrupt traders, entrepreneurs, especially retailers.

One of the chain of stores with 3500 businesses measured a 10 percent drop in traffic, compared to the same period of the previous year, in its larger Supermarkets in July.
Customers’ purchasing habits also changed and many of them looking for cheaper products.
Due to the declining consumption state had nearly 930 billion HUF income, 8 percent and 80 billion HUF  less than last year – reports HírTV.