Portugal’s bankruptcy falls

Portugal's bankruptcy falls

It Looks like Portugal is having no problem handling their business… literally. They have seen a massive fall in bankruptcy, which has been at an all time low since 2007.

The drop in bankruptcy among companies has come down by a whopping 20.6 percent. In fact, the total opposite of bankruptcy has been happening in the country. Portugal saw 35 000 companies launched in the last two years.

“In conjunction with the numbers for closures and bankruptcies, this recovery in the number of new companies to levels similar to those prior the Financial and Economic Assistance Programme took effect represents a positive signal and that may suggest some adaptation and renewal in the national productive capacity,” said Teresa Cardoso de Menezes, the Informa D&B General Director.

The tourism and accommodation industry has taken third place among prospering companies. Other sectors that have done exceptionally well include, agricultural, cattle raising, fishing and hunting companies .