The state was the most slow to comply with the commitments

Portuguese companies have lost more than 9,200 million euros last year on invoices that can not be charged with the state to continue to lead the late payments, according to a study released today by Intrum Justitia.

The European Payments 2015 report, the Swedish consultant concludes that last year “losses in Portugal resulting from the non-payment of invoices are set at 2.3%, which corresponds to 9,237 million euros of losses motivated by non- payments “.

In Portugal, the average time for payment in 2014 stood at 68 days, 40 days more than the European average, which is 28 days. The state was the most slow to carry out commitments, staying well above this average, taking 94 days to pay (over about 40 days on average than agreed).

Consumers were those who took less time to pay, taking an average of almost 40 days, six more days than the average payment term set. Private companies took an average of almost 70 days to pay, 21 days than originally agreed.

The report also highlights the impact “very devastating” that delays in payment have in corporate life. Portuguese companies have highlighted the decrease in liquidity (97%), loss of revenue (62%) or the drag on growth (58%).

But delays have also influenced the ability – or not – of companies to hire new workers: the 2015 European Payments report indicates that “45% of companies in Portugal believes will not hire new employees because of these delays and 10% say they would hire more if payment deadlines are met. ” (Read more)

[Source]