Corporate bankruptcies have increased by more than 10 percent in most advanced economies this year, under pressure from rising borrowing costs and the end of support measures approved by governments during the Corona pandemic.
According to a report by the Financial Times, bankruptcies of American companies rose by 30 percent on an annual basis during the year ending last September, after a decade of decline. In Germany, the largest economy in the European Union, bankruptcies rose by 25 percent during the period from January to September compared to the same period last year. Across the European Union, corporate financial defaults rose by 13 percent year-on-year in the nine months to September, hitting their highest level in eight years.
Source (Al-Rai Kuwaiti newspaper, adapted)
