Business News


Average Payment Delays Reduced to 18 Days

Ljubljana, 01 August (STA) - The average delay in payment of an invoice in Slovenia fell to 18 days in June, the lowest in a decade, data from Ljubljana-based rating firm Bonitetna hisa I show.

Payment delays were reduced because of new legislation with companies scaling down on deliberate protraction of payments and dealing with part of delays through settlement, the rating firm said.

Another reason is the failure of construction companies, which are responsible for the biggest delays in payment.

Average payment delays rose from 25 days in January to 30 days in the following two months, but then fell to 26 days in April and 23 days in May.

In June 2010, companies in Slovenia were an average 29 days late on payment of their bills. The figures show the latest fall in payment delays is not a seasonal phenomenon, Bonitetna hisa I said.

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