Romanians come last in Europe on paying invoices on time

Over two third of Romanians, namely 70%, pay their invoices on time, and the rate went down for the second consecutive year. Alongside Bulgarians, Romanians are the least punctual payers in Europe, the 70% rate being under the East-European average of 72% and the European average of 75%, reports local Ziarul Financiar. A survey conducted by TNS Infratest at the request of EOS financial group reveals that “individuals have a payment term of 33 days, compared to 29 days in Eastern Europe (includes Russia, Poland, Slovakia, Bulgaria, Romania, Greece, Hungary), while companies can pay their invoices within 40 days, compared to 42 days in the region”. “In Romania, we tend to make late payments. 24% of customers in Romania are paying late, less than in Bulgaria (25%), but above the level in European countries,” said Georg Kovacs, general manager of EOS KSI Romania, cited by local Ziarul Financiar. “Romanian companies, compared to those in Eastern Europe, consider that the payment behavior will improve in the next two years, especially in the corporate sector,” added Kovacs. In the case of individuals, 52% of respondents consider that the payments situation will improve, compared to 34% in Eastern Europe, while in the case of companies, the rate stays at 34%, similar to the expectations in the region – 34%. Improving the current economic situation and Government initiatives could contribute to improvements in payment behavior, according to companies representatives. Irina Popescu, irina.popescu@romania-insider.com