Construction constriction

Last year the courts declared 723 Polish companies bankrupt, according to research by credit service provider Coface Poland. This is more than a 10 pct increase compared to 2010, which, according to analysts, was a period of improvement of payment discipline and finished with a 5 pct decrease in the number of bankruptcies. "The macroeconomic condition of Poland last year was good," says Marcin Siwa, director of the risk assessment department of Coface Poland. "The period finished with a satisfactory growth in GDP and good indexes with regard to retail sales and industrial production. However, it is hard not to notice that the Polish economy is now under some strain. Eurozone problems, the uncertain future, the fluctuation of the złoty's exchange rate, growing inflation, sharp increases in the prices of basic materials and goods (fuel, energy and food) are all combining to undermine the profitability of Polish companies and their payment behaviour in a negative way," explains Marcin Si