The level of bankruptcies in Sweden has risen to the levels of the 1990s. Local companies can not withstand the crisis, writes Bloomberg.
“The number of bankruptcies in Sweden jumped 29% in 2023 – to the highest level since the 1990s, when the bursting of the property market bubble crippled the Scandinavian country’s banking system,” the agency writes.
It cites data from credit reporting agency UC and believes the bankruptcy situation may be just the tip of the iceberg amid persistently high inflation and interest rates.
“Bankruptcies rose 23 per cent overall in December from a year earlier,” Bloomberg added.
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