Number of consumer bankruptcies soars - report

According to analysis from the Centre for Economic Information released on Thursday, the number of consumer bankruptcies declared in Poland in October 2016 increased to 511, from a total of two in January of 2015. Meanwhile, there were 3,591 insolvencies over the same period in 2016, and increase of 70 percent y/y, according to the report, with the highest number occuring in Mazowieckie Voivodship. The rapid rise could likely be attributed to the ease on conditions of applying for bankruptcy status introduced in January 2015.