Back
Register for SMS Alerts
or enter your details manually below...
First Name:
Last Name:
Email:
Password:
Hometown:
Birthday:
Sorry, we couldn't find that email.
Existing users
Email
Password
Sorry, we couldn't find those details.
Enter Email
Sorry, we couldn't find that email.

At 75%, Malta has highest percentage of companies owed money in EU

Maltese companies report the highest percentage of debt claims in EU

james
James Debono
2 December 2016, 8:13am
Companies were the most likely to have had domestic debtors with overdue debt claims past 30 days
Companies were the most likely to have had domestic debtors with overdue debt claims past 30 days
In 2015, three in four of Maltese companies reported being owed money from domestic debtors, with overdue debt claims. 

Malta was the country with the highest percentage of companies owed money from domestic debtors, followed by Greece (67%), and Slovenia and Croatia (both 63%). 

At the other end of the scale, fewer than a quarter of companies in Denmark (18%), Sweden (21%) and Estonia (24%) did so. 

Companies were the most likely to have had domestic debtors with overdue debt claims past 30 days but less than six months in Greece (49%) and Malta and Italy (both 44%), and least likely to have done so in Bulgaria (11%), Estonia (14%) and Denmark (15%). 

Companies in Malta (31%), followed by Slovenia (27%) and Croatia (24%) were also the most likely to have had domestic debtors with overdue debt claims at six months or more; companies in Italy (2%), Denmark (3%) and Sweden (5%) had the fewest such debtors. 

This emerges from a survey carried out in the 28 Member States of the European Union between 15 and 24 June, 2016 among enterprises employing one or more persons in manufacturing, services and industry. 200 Maltese companies were interviewed by MISCO.

The survey also shows that four in 10 companies in Malta (43%), Slovenia (41%) and Italy (38%) had enforced unpaid debt claims against domestic debtors via judicial or out-of-court procedure. Companies in Latvia (9%), Estonia (10%) and France (11%) are the least likely to have done this. 

Very few companies in any Member State had overdue foreign debt claims in other countries during the 2015 fiscal year. Companies in Luxembourg (15%), Malta (13%) and Germany (10%) were the most likely to have done so, while those in the United Kingdom, Bulgaria, Slovakia, Spain and Poland (all 2%) were the least likely. 

Luxembourg (17%), Malta (13%) and Slovenia (11%) had the highest proportions of companies with foreign debtors in the EEA with debt claims past 30 days but less than six months. 

Malta (5%) is also the country with the highest percentage of companies with foreign debtors outside the EEA with debt claims at six months or more. 

The major obstacle cited by companies in Malta in recovering debts in other countries was the cost of specialist legal advice in another country.

james
James Debono is MaltaToday's chief reporter on environment, planning and land use issues, ...
DealToday
Latest Business News
Business Comment 09:51
Earnings driving markets, Snapchat presenting next Winter Olympics and good times for IBM
Business Comment 09:49
One may believe that having a research and business innovation hub in malta similar to Silicon Valley is not a fantasy dream... or is it?
Business Comment 18-10
European markets closed mostly in the red on Tuesday as investors digested corporate earnings and focused on latest developments in the Cata...
Business News 16-10
Treat your eyes with the world’s most technologically advanced automobile manufactures at the 45th Tokyo Motor Show 2017
Business News 16-10
A truck powered by Toyota-developed hydrogen fuel cells has completed the first part of a wide-ranging trial in the US, now it will actually...