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10 May 2023, 16:49

Number of economic insolvency cases in Belarus on decline

MINSK, 10 May (BelTA) - The number of economic insolvency cases continues to decline, BelTA learned from the Belarusian Economy Ministry.

The Rehabilitation and Bankruptcy Department prepared a bulletin on economic insolvency (bankruptcy) cases for 2021-2022 and identified a number of patterns.

Both the number of bankruptcy cases filed and the number of entities in economic insolvency proceedings decreased in 2022. For example, last year 1,364 legal entities and sole proprietors were subjected to economic insolvency proceedings, which is 20.9% less than in 2021 (1,724 cases).

As of 1 January 2023, some 1,180 debtors were under economic insolvency proceedings, which is 24.8% down (or 1,569 cases) compared to the beginning of 2022.

The biggest decline in the number of economic insolvency cases was recorded in Minsk (212 cases, or 32.5%), Vitebsk Oblast and Minsk Oblast (96, or 42.7%, and 59, or 26.3% respectively).

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