Cannot see the end of the tunnel

The economic recovery, previously predicted for the second half of 2010 is uncertain and the situation is very fragile – says Coface Hungary’s Country director. In 2009, the number of insolvency proceedings increased drastically.

In the last year, more than 5 percent of the companies could not meet with their obligations and improvement can not be expected in the future. The most risky industries are the construction industry and the wholesale and retail trade.
Lat year, the number of insolvency procedures increased by 37 percent in Hungary. The rate of growth exceeds the trends of the previous year, which was already extremely high.