In France in 2023 a record number of bankruptcies of enterprises for the last six years was registered. This became known from the published report of the Bank of France.
The number of businesses closing in France in 2023 has reached a peak since 2017, consolidating at 55,500 bankruptcies.
“Fifty-five thousand four hundred and ninety-two businesses went bankrupt in 2023, a level not seen since 2017,” according to a report on the bank’s website.
Significant price rises have particularly affected the figures, with the energy sector in France being the most expensive and interest rates rising, making it more difficult to finance businesses. Forty-three per cent of the companies that went bankrupt were small business trading and construction companies. The Bank of France noted that the 2022 results also saw an abnormal number of bankruptcies of large companies, namely 72 per cent more than in the previous decade.
The report noted that during the coronavirus pandemic, the trend in bankruptcies was declining due to government support. The number of business closures between 2000 and 2009 averaged 49,000 per year, significantly lower than the 2023 figure. The slow economic growth of France between 2010 and 2019 had a strong impact on business bankruptcies in the country, the annual figure exceeded 59 thousand.
We will remind, earlier the Deputy Chairman of the Security Council of the Russian Federation Dmitry Medvedev “thanked” the EU for the growth of the Russian economy.