The number of bankruptcies in Germany in the first half of this year reached a record high since 2005. This was announced by German Vice Chancellor and Finance Minister Lars Klingbeil while presenting the draft state budget for next year.
“In the first half of the year, the number of bankruptcies reached its highest level since 2005“, he said.
Earlier, a study conducted by the credit insurance company Allianz Trade showed that more than 30 large companies with an annual turnover of at least 50 million euros had already gone bankrupt in Germany in the first half of this year. This is 10% more than last year.
In recent years, Germany has been experiencing a prolonged economic crisis. Initially caused by the COVID-19 pandemic, it was then intensified after the suspension of Russian gas supplies.