Number of insolvencies rising in construction and tourism sector!
The number of corporate insolvencies in Hungary is expected to climb by 20 percent this year, edging over 5,150, according to an analysis by credit insurer Euler Hermes.
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Tünde Bujdosó, in charge of risk management at Euler Hermes, said the number of insolvencies in the first half rose by 18 percent from the same period a year earlier.
She noted that the number of insolvencies is still lower this year than in 2019, thanks to the faster-than-expected global economic recovery, economic stimulus in Hungary and a quicker return to normalcy in the country because of the high inoculation rate.
She noted that the number of insolvencies is still lower this year than in 2019, thanks to the faster-than-expected global economic recovery, economic stimulus in Hungary and a quicker return to normalcy in the country because of the high inoculation rate.
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However, some sectors remain exposed: the number of insolvencies in the tourism and catering industry reached 190 in the first half, up 36 percent from the same period in 2019; and the number of insolvencies in the construction sector climbed by 40 percent from the same period a year earlier.
Euler Hermes expects higher feedstock prices, the chip shortage, supply chain interruptions and pressure to make technology investments will boost the number of insolvencies among local automotive industry suppliers.
When – what we know is the present Governments Balance Sheet – what we are told and Factually told – are we really surprised at the content of this article ???
Inflation, Increased Interest Rates, Government Global Borrowings – the weekness of the Forint/Currency – the Property Market – in a complete state of Disarray – SELLERS in number increasing – absolutly SMOTHERING the far less numbers of Buyers – just part of our Economic and Financial – PROBLEMS.
Challenging Times.
Mea Culpa – with the European Union – maybe ???
Funding is THERE and Available ///
Do we go AGAIN go into International Banking Finance arrangements – Borrowing – at interest rates that citizens WEAR – in our endeavours – to STABILIZE the Economy ?
Interesting to watch – and times going forward the course of action that the present Government “tell us” they are going to undertake – in attempts to STABILIZE – the Economy.