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About 800 bankruptcies expected

SLOVAKIA should see a decline in the number of firms entering bankruptcy in 2010. According to estimates published by Euler Hermes, a multinational insurance group, the number of bankruptcies could fall by slightly more than 11 percent, meaning that the total number of companies becoming insolvent will be around 800 over the next 12 months, 100 fewer than had been expected previously, the TASR newswire reported.

SLOVAKIA should see a decline in the number of firms entering bankruptcy in 2010. According to estimates published by Euler Hermes, a multinational insurance group, the number of bankruptcies could fall by slightly more than 11 percent, meaning that the total number of companies becoming insolvent will be around 800 over the next 12 months, 100 fewer than had been expected previously, the TASR newswire reported.

The key factor in 2010 will be governmental support for domestic demand and how much the Slovak cabinet stimulates the labour market, said Helena Múdra, the CEO of Euler Hermes Servis Slovakia.



“What needs to be taken into account, besides the situation in Slovakia’s main export markets, are measures that the government might take in view of the coming general election,” said Múdra, referring to the firm’s latest prognosis covering Slovakia as well as worldwide developments.


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