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20/05/2024
Monday
THIS DAY IN HISTORY:
20 May 
1970 Vladimir Zelensky became the president of Ukraine.
1970 The proclamation of the Republic of Cuba, the evacuation of the American troops.
1970 Vasco da Gama became the first European to arrive in India, sailing around Africa.
20 May
1970 Vladimir Zelensky became the president of Ukraine.
1970 The proclamation of the Republic of Cuba, the evacuation of the American troops.
1970 Vasco da Gama became the first European to arrive in India, sailing around Africa.
GERMAN BUSINESS SHOWS RECORDS IN THE NUMBER OF BANKRUPTCIES
The number of German companies that have reported bankruptcy is growing rapidly, according to the publication Merlin 24/7. According to the German statistical Office, in March 2024, the number of legal entities that reported their insolvency increased by 12.3%, compared with similar data for March 2023. The month before, the growth rate was even higher, amounting to 18.1%. And in the first month of this year, 1,622 cases of insolvency were officially recorded, which is 27.6% higher than in January 2023.
German statistics have been recording such dynamics, showing a double-digit increase in the number of bankruptcies, since the middle of last year. In fact, business has only now returned to the level typical for April 2019 – March 2020, preceding the outbreak of the pandemic.
Experts believe that the actual number of bankruptcy cases may reach 20 thousand. The main reasons are the rise in energy prices, an increase in the interest rate on loans and the consequences of the pandemic, which significantly weakened European business. The benefits that the federal authorities tried to help entrepreneurs are expiring, and it is becoming more difficult to continue functioning in the new conditions.
It is reported that along with the number of bankruptcies, the demands on business from creditors are also growing. In January 2024, the German district courts recorded the volume of claims in the amount of about ˆ3.5 billion. This figure is more than 1.5 times higher than a year earlier. Then it was ˆ2.3 billion.
Experts call the number of bankruptcies a somewhat lagging indicator of economic activity. As a rule, it turns out to be the most sensitive to the situation on the labor market when it comes to the insolvency of ordinary households. In March, sources report, the number of such bankruptcies increased by 18.1% (10,339 cases). In total, in the first quarter, this parameter showed an increase of 13%.
German statistics have been recording such dynamics, showing a double-digit increase in the number of bankruptcies, since the middle of last year. In fact, business has only now returned to the level typical for April 2019 – March 2020, preceding the outbreak of the pandemic.
Experts believe that the actual number of bankruptcy cases may reach 20 thousand. The main reasons are the rise in energy prices, an increase in the interest rate on loans and the consequences of the pandemic, which significantly weakened European business. The benefits that the federal authorities tried to help entrepreneurs are expiring, and it is becoming more difficult to continue functioning in the new conditions.
It is reported that along with the number of bankruptcies, the demands on business from creditors are also growing. In January 2024, the German district courts recorded the volume of claims in the amount of about ˆ3.5 billion. This figure is more than 1.5 times higher than a year earlier. Then it was ˆ2.3 billion.
Experts call the number of bankruptcies a somewhat lagging indicator of economic activity. As a rule, it turns out to be the most sensitive to the situation on the labor market when it comes to the insolvency of ordinary households. In March, sources report, the number of such bankruptcies increased by 18.1% (10,339 cases). In total, in the first quarter, this parameter showed an increase of 13%.
27.04.2024
