WARSAW: Corporate insolvencies are set to fall three percent in Poland this year, while rising two percent worldwide, according to a new report from trade credit insurance company Euler Hermes. “The health of the global economy will deteriorate further in 2016 as corporate insolvencies are expected to rise two percent worldwide,” Euler Hermes said.
It added: “Weak long-term growth, increased turbulence in sectors like commodities, and the domino effect of major bankruptcies will cause more business bankruptcies, marking the first rise since the peak of the global financial crisis in 2009.”
The company said that Western Europe is the only region where insolvencies are expected to decrease – by five percent in 2016 and by three percent in 2017. According to Euler Hermes, 302 bankruptcies were registered in Poland from the beginning of the year to the end of May, down from 333 in the same period last year.
