Polish firms lose PLN 100 bln a year on payment gridlocks – report

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Polish companies lose over PLN 100 billion a year due to payment gridlocks, according to data compiled by think-tank Civil Development Forum (FOR). The largest payment gridlocks can be observed in the construction industry.

“According to our study, a quarter of businesses have experienced payment gridlocks over the last three years,” said FOR chief economist and vice president Aleksander Łaszek. The main causes of the gridlocks were business partners also experiencing payment gridlocks or going bankrupt.

He also stated that the size of the shadow economy is important for payment gridlocks. “Companies, which state that the size of the shadow economy in their industry is significant, much more frequently also experience payment gridlocks,” Łaszek added.

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