Payment morale improved last year
Payment morale has improved in Hungary, with more bills settled on time in 2020 than in 2019, according to a survey from Bisnode, writes origo.hu.
It also emerged that last year fewer companies issued fewer invoices compared to the previous year.
The improvement in payment morale is indicated by the fact that nearly three-quarters of the invoices issued were settled on time. Additionally, the average payment delay decreased from 15 to 14 days, while the payment deadline increased by one day compared to 2019.
According to the analysis, the proportion of invoices paid extremely late decreased significantly, the proportion of delays over two months fell below 1%, and the proportion overdue beyond three months fell below 0.5%.
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