Insolvencies in Singapore to rise 3% from pre-Covid 2019 - among world's lowest

Singapore

A PROJECTED 3 per cent rise in insolvencies in Singapore this year compared to pre-Covid 2019 is expected to be among the lowest in the world at the point governments withdraw the unprecedented support measures, Atradius senior economist Theo Smid told The Business Times.

"If we compare the level of insolvencies at the end of 2021 with 2019, we see an increase of only 3 per cent. This ranks the evolution of insolvencies in Singapore in 2021 relative to pre-Covid-19 figures among the lowest increases among the countries we analysed," he said.