Less than half of companies in Romania pay their suppliers on time

Only 45% of the local companies pay their suppliers and the taxes they owe to the state on time, according to a study by risk management company Creditinfo. The companies with a correct business behavior accounted for 69% of the total turnover of all the companies in Romania in 2015, namely EUR 184 billion, up 13% compared to the previous year. This suggests a positive trend in the market, according to the study. The good payers recorded an average turnover of RON 2.8 million (EUR 629,000) per company in 2015. Meanwhile, the average revenues of the companies with late payments to suppliers and state recorded was RON 1.1 million (EUR 247,000) in 2015. Their total revenues dropped by 1% compared to the previous year, to EUR 84 billion, according to the survey. The survey analyzed over 633,800 firms, of which some 287,400 paid their debts on time. editor@romania-insider.com