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00:00The restructuring of the public budget for companies and the increased focus on the capital of workers and the formation of work in response to market changes,
00:11all of which are factors behind the rapid decline in the bankruptcy of companies in the month of March,
00:16which led to a record quarter-annual deficit since the third quarter of 2022.
00:23Al-Ihsar, a British government agency, said that 1815 companies were declared bankrupt in England and Wales in March,
00:34down from 2,177 companies in February, and also less than 17% in March 2023.
00:47The most common cases of bankruptcy were in the construction, distribution and hospitality sectors,
00:52where British companies were under great pressure due to the rise in energy prices, which began to decline now,
00:59in addition to the rise in costs and interest rates, which have been the highest since 2008.
01:06On the basis of the quarter, Al-Ihsar's service recorded 5,759 companies declared bankruptcy in the first quarter of 2024,
01:18which is less than 2% of what it was at the same time in 2023.
01:25Al-Ihsar's rate of bankruptcy was higher than it was in 2020-2021,
01:32when the British government submitted loans to companies in a way due to the coronavirus crisis,
01:39where regulatory restrictions prevented clearance procedures that the courts ordered.
01:44But Al-Ihsar's rate of bankruptcy is still much lower than the rates that were seen during the period of recession
01:51between 2008 and 2009 during the global financial crisis.
01:57Riyad Al-Saadi, CNBC, London