Bankruptcy rate in Poland the lowest in CEE - report

As of last year, five percent of firms operating in Poland went bankrupt, a report compiled by Coface showed. This is the lowest figure in the entire Central East European region. "In spite of a slight improvement, the number of bankruptcies is still high, as many as 65,000 firm bankrupted last year. Growth of domestic consumption was not enough to reduce the number of bankruptcies to the level recorded before the recent financial crisis," said Grzegorz Sielewicz, chief economist at Coface. Poland is among five countries of the CEE region where number of bankrupt firms declined last year, recording the lowest result, Sielewicz added. Coface estimated that the number will be decreasing and it will drop by six percent in the region at the end of this year.