The crisis brought numerous bankruptcies

Earlier forecasts about an economic upturn in the second part of 2010 might turn out to be wrong and the situation is rather volatile – says the director of. Coface Hungary. Last year more than 5 percent of enterprises were unable to comply with their undertakings. Building-construction and retail-wholesale are still the two most risky sectors. Last year the number of bankruptcy procedures surged by 37 percent in Hungary, reveals Coface Hungary’s latest analysis, mostly because the recession in Hungary that had been going on for years was deepened by the international economic crisis. 53 percent of procedures are liquidation procedures – their number increased by 30 percent; the number of termination procedures augmented by 44 percent. In 2009, the highest number of procedures was started against micro-companies (with a turnover below HUF 20 million) and larger family-size companies (turnover: HUF 20-30 million). According to Zoltán Dercze, the director of Coface Hungary the telecom and energy sectors resisted the crisis the best, and agriculture and the food industry also did well. The number of procedures was the highest in Budapest (40 percent), Pest county and Szabolcs-Szatmár-Bereg (6 percent) county. A lot of companies regularly have overdue claims. These are likely to be collectible in the first 2-3 weeks, but after 90-120 days payment willingness radically declines.