More enterprises opened than shut down in January-June

For the first time since 2013, the General Commercial Register has recorded an increase in the number of new businesses launched over the first half of the year. New enterprises also outnumbered those that shut down in the same period.

The register's data show that in January-June 2017, 16,354 new businesses were set up against 15,981 a year earlier, posting an annual rise of 2.33 percent.

In the first half of the year 14,095 enterprises were taken off the register. Compared with 18,516 shutdowns in January-June 2016, this constitutes a 24 percent decline. However, it still means 77 enterprises close down every day.