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'The number of failures that can be next year's triple'

The number of bankruptcies may be next year it will double, or even triple, compared with 2019, the ING economic bureau on Monday. The coronacrisis will be agai

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'The number of failures that can be next year's triple'

The number of bankruptcies may be next year it will double, or even triple, compared with 2019, the ING economic bureau on Monday. The coronacrisis will be again this year, more businesses failing than in the previous year, but not as much as in 2021, according to the ING.

The coronacrisis shall be in accordance with ING the result of an economic contraction of 6 per cent by the year 2020. As a result of the economic crisis last year, about more than 4500 companies have become insolvent.

ING said, the number of foreclosures and now held in check by the government. The problems come about as a result of the solar corona-an outbreak at the government's door for financial support. Also, the number of constraint due to the increased flexibility of firms, allowing them to more quickly adapt to the economic bad times.

"in Spite of the significant revenue declines in a number of industries, it can be a burst of failures may be prevented by a combination of government funding, ondernemingsflexibiliteit and a reduced capital intensity.", according to Katinka Jongkind, an economist at ING economics department.

for example, If the measures are due to expire and while the loss of income due to the anderhalvemetersamenleving goes on, the number of foreclosures in 2021 is further enhanced. Economists expect a 1.5 to 2.5 per cent of the Dutch companies in the next year, it will fall over, compared with 0.8 per cent in 2019. Converted to the number of defaults this run up to 6500 up to 10 000.

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