Coface: The number of insolvency proceedings may increase dramatically

According to Coface Hungary: Year 2012 can be worse than last year for the Hungarian companies. While in 2011 the companies had to face only the economic crisis and its aftermaths, but this year a high degree of uncertainty, which covers almost all areas of economic life occurred.

The bulletin cites Kárpáti Gábor, managing director of Coface Hungary, who said that bankruptcy will increase dramatically in the Hungarian market in 2012. However, in the engineering industry and the automotive industry and the supporting sectors decline is not expected, partly due to the Mercedes investment in  Kecskemét – reports MTI.