January 10, 2025
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Economy

Germany recorded the highest number of bankruptcies since the financial crisis

In the last quarter of last year, Germany recorded the highest number of corporate bankruptcies since 2009, a study by the Halle Institute for Economic Research (IWH) showed, reflecting high interest rates and rising prices.”, — write: epravda.com.ua

In the last quarter of last year, Germany recorded the largest number of corporate bankruptcies since 2009, according to a study by the Halle Institute for Economic Research (IWH), reflecting high interest rates and rising prices. Reuters reports. According to the study, there were 4,215 corporate bankruptcies in the fourth quarter of 2024, resulting in nearly 38,000 job losses, a level not seen since the financial crisis of mid-2009.Advertisement: Compared to the fourth quarter of 2023, the number of bankruptcies at the end grew by 36% last year, according to IWH. The institute only partially connects the negative dynamics with the current economic crisis and the increase in the cost of energy carriers and wages. Rising interest rates and the removal of subsidies have caused a catch-up effect from 2022.Advertisement: Among the sectors, the largest increase in insolvencies was observed in the services sector – up 47% compared to last year, while the manufacturing sector – up 32%.

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