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Bulgarian companies – most patient with their debtors

Submitted on Thursday, 10 September 2009No Comment

Every other debt between companies in Bulgaria isn’t paid on time. According to the report of the newspaper “Sega”, nearly 47% of the installments are not paid on time.

German and Swiss companies are the most punctual ones – 75-77% of their debts are paid off on time.

“Bulgarian companies have the most patience with their debtors of all,” commented Raina Mitkova, chief executive of “EOS Matrix”. Bulgarian companies give an average of 33 days for the debt to be paid off. In Germany, that period is 25 days. Even when the debtors are clearly stepping out of the boundaries, companies in Bulgaria wait the longest to get their money back.

Bulgarian companies give up on the debts after an average of 527 days, which is nearly a year and a half. In comparison, Swiss ones do so after 284 days, and German ones – after 364 days.

Because of their patience however, Bulgarian companies lose 4% of all payments. In Switzerland and the United Kingdom companies part only with 1,4% of the debts they’re owed. One sixth of all Bulgarian companies have been seriously endangered because of irregular payments.

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