ECONOMIC SLOWDOWN AND RISING INSOLVENCIES: WHAT'S THE OUTLOOK FOR CEE COMPANIES?
- Corporate insolvencies in Central & Eastern Europe (CEE) increased in 2023.
- Nine countries experienced a higher number of insolvencies (Czech Republic, Estonia, Hungary, Lithuania, Poland, Serbia, Slovakia, Slovenia and Romania), and three countries recorded a decrease (Bulgaria, Croatia and Latvia).
- The economic performance in the region will remain below its potential in 2024.
In the wake of an economic downturn, Central and Eastern European (CEE) countries witnessed a dramatic surge in company insolvencies throughout 2023. While businesses initially weathered the storm with government support measures during the pandemic, the subsequent withdrawal of these initiatives combined with macroeconomic pressures drove insolvency rates to new heights.
