Coface: Can not see the light at the end of the tunnel

According to the latest survey of the international credit insurer Coface Hungary, in the first quarter of this year, the number of insolvency proceedings increased by a total of nearly 25 percent, compared to the first quarter of last year. The government measures have not helped the reduction of risks.

In Hungary the growth rate of the number of insolvency proceedings accelerated since last summer – both on macro and on micro level – says Kárpáti Gábor, CEO of Coface Hungary. The  foreign investors' uncertainty and lack of confidence also play a large  role in it. The past government measures – such as VAT increase or employee contributions growth – have caused significant problems for the companies, and destroyed investor confidence