Austria: Liquidity Problems On the Rise

BusinessEconomy ♦ Published: September 6, 2013; 20:10 ♦ (Vindobona)

This year, insolvencies and delayed payments are expected cause economic costs of 2.1% of the Austrian GDP.

Austria: Liquidity Problems On the Rise / Picture: ©

About 45% of the Austrian businesses have temporary liquidity problems due to delayed payments. Compared to other EU countries, Austria is still below the average (57%). In the EU, total losses due to delayed payments amount to € 340bn per year. Moreover, 450,000 jobs were lost because of insolvencies in 2012. This year, about 500,000 lost jobs are expected.

Above all, Austrian…