Number of bankruptcies to fall by 4% in 2016

The number of bankruptcies and resturcturing proceedings of Polish companies will fall by four percent y/y, according to a report by Coface. The document also said that the number of bankruptcies fell by 26 percent in Q1 y/y mainly due to changes in legislation. Coface said that Poland is dependent on developments on foreign markets, however it expects that the "economic situation and business climate will remain favorable and the end-year number of bankruptcies and restructuring proceedings will fall by four percent y/y."