KUKE: Bankruptcies down by 20.4% in April

The number of bankruptcies in April totaled 43, a decrease of 20.4 percent y/y, according to data from the Export Credit Insurance Corporation (KUKE). In month-to-month term the figure fell by 2.3 percent.

“If we assume a 3.7 percent GDP growth for this year, and the increase of net profit margin by 4.4 percent, we anticipate that some 600 companies will file for bankruptcy this year, similar to the levels recorded last year,” KUKE said in a statement.

In the last 12 month period, as many as 569 companies has gone bankrupt.

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