Slight improvement seen in late payments

Competition

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The ratio of late payment of invoices by Hungarian businesses was approximately 32.9% in the first half of 2016, dropping slightly from 33.2% in the corresponding period a year earlier. In the first half of 2014, the proportion was 36.1%, business information firm Bisnode Hungary reported yesterday based on compiled data.

At the same time, Bisnode added that deadlines for the payment of invoices averaged 28 days in the first half, which is almost two days more than in the corresponding periods of the previous two years. 

Companies in Somogy County, in the west of the country, paid their overdue invoices the fastest, within ten days on average, Hungarian news agency MTI reported based on Bisnode data. The slowest late payers were in Szabolcs-Szatmár-Bereg County, in the northeast, where business partners had to wait more than 30 days past the invoice deadline to get their money, it added.

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