Despite already posting the highest proportion of uncollectable receivables in the region, Greece’s average rose to 2.8% in 2018 from 2.5% in 2017.
Despite a relatively low percentage of companies reporting late payments by B2B customers, the impact on suppliers in Greece has been more severe than in other countries. A high 30.1% of Greek respondents of the 2018 Atradius Payment Practices Barometer survey said that the main consequence of payment delays was lost revenue. 24.1% said that to manage the impact of overdues, they needed to take specific measures to correct cash flow and 18.1% that they needed to delay investments in property, plant and equipment. Greece had the highest percentages of respondents who pointed to insufficient availability of funds as the main reason for payment delays. After a decrease in the 2017 survey, the proportion of uncollectables increased again in 2018 and remains the highest of the countries surveyed in the region.
Read the full report here: Greece: heavily impacted by past due B2B invoices