Bankruptcies in Hungary Postponed Due to Loan Moratorium

  • 5 Jan 2022 9:25 AM
  • Hungary Around the Clock
Bankruptcies in Hungary Postponed Due to Loan Moratorium
The number of new companies founded in 2021 reached 33,821, a nine-year high, while company wind-ups were the lowest since 2007 at 20,439, according to company data provider Opten.

The number of company liquidations and closures remained low in 2020 and 2021, partly due to the loan repayment moratorium, said Opten CEO Richárd Petrics.

Companies were hit hard by the pandemic, and government measures only postponed liquidation proceedings.

Late 2021 data shows the trend changing, and more businesses could be dissolved in 2022, he observed.

The proportion of companies closing down was high in the info-communication sector and in education and other administrative activities.

Opten expects new company registrations to drop slightly this year to 30,000-31,000, along with 27,000-28,000 company wind-ups.

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