22,000 German companies declare a bankrupt

The German Federal Statistics Office revealed Friday the high number of German companies bankrupt until the end of August last year by 12.3% compared to the same month last year, attributing it to the continuation of the global financial crisis.


And monitoring of statistical experts in 2619 a company in bankruptcy last August to become the population of bankrupt firms in the first eight months of this year is 21807 companies.

The number of bankrupt companies in August by 12.3% compared to the same month last year. And doubled the size of debt owed by bankrupt companies to about 4.3 billion euros (6.4 billion dollars) in the same month.


Experts expect continuing high proportion of bankrupt companies in the coming months, despite a slight revival, which began witnessing the economy and out of the recession. And criticized the reluctance of banks to grant loans companies for investment.


The expert warned German Economic Onderesa Rees of this bankruptcy wide between German companies threatens to increase unemployment in the country.

And predicted that the number of unemployed year in Germany next year to 4.25 million people.


The bankruptcy of thousands of German companies at a time when reports showed the economy start to recover, but at a slow pace.

Higher orders
The latest official data to the high number of orders in the manufacturing sector in September fell by 0.9% compared to August last year.


The Economics Ministry said Friday that the number of orders received by industrial firms rose in September last for the seventh month in a row.


The ministry revised the growth rate in orders in the month of August from 1.4% to 2.