Corona consequences – virtually no payment problems – savings

HomeEconomy27. September 2021, 6:51 p.m.

Corona consequences: virtually no payment problem

Despite the corona pandemic, German companies have fulfilled their payment obligations with unusual reliability over the past year. The default rate fell to an all-time low of 1.14% in 2020, the Creditreform Rating reported on Monday. Market watchers regard insolvency proceedings and failure to meet payment obligations as a default. The drop is “due to the extraordinary economic and financial response of the federal government during the pandemic,” he said. The temporary suspension of the obligation to file for bankruptcy played a major role. Creditreform also expects a rather moderate development of default rates in the current year. However, there is an extremely high level of uncertainty in all economic forecasts.

© SZ of 09/28/2021 / dpa

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