The number of Hungarian companies that went bust rose 31.5pc to 15,066 in 2009, according to Opten, which compiles information about companies.
The number of voluntary liquidations jumped 44pc to 14,000 in 2009.
The trend is not likely to improve markedly in the first half of 2010, said Opten strategic director Hajnalka Csorbai.
There were 47,000 new companies established in 2009, down 3pc from 2008, falling for the first year since Hungary’s transformation into a market economy.
The All Hungary Media Group is firmly committed to freedom of expression and therefore applies a mostly "hands off" approach to comment moderation. Comments left by readers represent their own views and do not necessarily reflect the opinions or beliefs of the staff, editors or owner of the All Hungary Media Group, who nonetheless reserve the right to remove comments that are off-topic or which moderators consider to constitute "hate speech." Also note that in order to prevent spam we generally close entries off to comments several days after publication.
And yet all those Hungarian manager are still optimistic according to Deloitte!
“Deloitte survey finds Hungarian managers more optimistic about outlook”
http://www.realdeal.hu/20091217/deloitte-survey-finds-hungarian-managers-more-optimistic-about-outlook
Well, you have to keep in mind that in Hungary, often the best way to make money from a company is to bankrupt it
I’d love to know how Erik, they must have far more ‘creative’ accountants than I do.
I can name at least fifty more fiascoes in addition to the BKV, MAV, Flybalaton, Ryanair,Gyurscany Ferenc,Simor Andras MNB Governor, variety.
We never did find out where all the huge sums of money loaned by the IMF, EU, ended up..hey?
Some believed most of it was buried deep in the offshore bank accounts of our greedy and guileless
politicians. Quite possibly…