Payment discipline drops to the 2015 level in Hungary

By: Trademagazin editor Date: 2022. 11. 16. 10:32

In Hungary business partners pay 76% of invoices before their due date. This proportion is about the same as the average of Central and Eastern Europe, but it is 3 percentage points lower than the European average. The payment discipline is at the 2015 level right now.

One of Europe’s leading receivables management firms, EOS Group, did a comprehensive survey on the payment habits of citizens and companies, interviewing 3,200 decision-makers in 16 countries. Compared with 2019, the proportion of late payments increased from 15% to 20% in Hungary – this is 2 percentage points higher than the European average. Tamás Lencsés, managing director of EOS Magyarország told: receivables management becomes more important at economically difficult times like these, as a company’s survival might depend on preserving its liquidity. //

This article is available for reading in Trade magazin 2022/11.