Spectator on facebook

Spectator on facebook

Slovakia's payment discipline among worst in Europe

Slovakia has placed 20th out of 25 European countries in a payment-discipline survey carried out in February by Swedish-based company Intrum Justitia, which specialises in the management of receivables.

Intrum Justitia's European Payment Index (EPI) reflects a set of indicators collected from a total of 6,500 businesses.

Slovakia received a rating that was nearly identical with those given to Poland and Hungary. The Czech Republic received the worst rating among the Visegrad Four countries in 23rd place.

The survey was topped by Nordic countries Finland, Sweden and Norway, while Greece and Portugal were at the bottom.

Repayment delays in Slovakia were among the longest in Europe. "While Finland was found to be 6.3 days late with repayments, Slovakia remains in default for an average of 20.1 days," said Zoltan Papp, commercial director of the Slovak branch of Intrum Justitia. Portugal, with the worst record in Europe, had an average default period of nearly 40 days.

Slovakia has a higher proportion of unsettled payments than the European average. Its figure of 2.8 percent is four times that of Finland, but still better than those of all the other Visegrad Four countries.

According to Papp, the public-administration sector has better payment discipline than ordinary consumers in Slovakia, while in Western Europe it is the other way around.

"This comes down to a great boom in Slovakia, when people are taking out loans or buying things on hire purchase, but failing to consider whether they'll be able to repay their obligations".

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

Night life in Bratislava will not end

Councillors for the Old Town adopt new opening hours for pubs, night clubs and restaurants.

Cvernovka's creative talents celebrate first open day at new premises Photo

Bratislava's art and design ateliers from the old yarn-making factory open their doors on May Day.

New premises for Cvernovka

How social networks can earn you a ticket to Germany

Can a status on a social network change someone’s life? Yes, if you write humorous stories about a fictive German ambassador.

Assaf Alassaf (r) talked about his life and his book in Bratislava

New investor to create 500 jobs in Nitra

A company following the Jaguar Land Rover carmaker to Nitra plans to create 500 new jobs and invest €17 million.

Tha Jaguar Land Rover draws also other investors to Nitra.