Egypt’s Bankruptcy Rates Drop 22% In July

The rate of insolvency or Bankruptcy entries in the court of first instance has dropped by 22% in July to 56 case, down from 72 cases in July 2013.

The study, conducted by the cabinet’s Information and Decision Support Center (IDSC), saw the number bankruptcy ruling retreating by 50% to two rulings, down from 4 in the same period a year earlier.

The report showed a 12% increase in the capital of startups with 544 new startups in July with LE 740 million in capital, up from 525 startups in July 2013.

Source: AlAhram Gate & Arab Finance