Trade credit insurer Atradius is expected to publish a study on global growth, according to which there will be a 2.9% rate in 2014 and 3.2% growth rate in 2015. The study shows that the insolvency rates in Greece increased by 10% in 2013 and will increase by 5% in 2014, meaning that the Greek economy will grow in 2015.
The study shows that the global growth rate increased in the last six months and is set to carry on increasing in 2014 and 2015. This is mostly due to the huge growth in developed markets, while growth in emergent markets is stagnating. The Eurozone in particularly is performing better than expected, with a 1.2% growth estimate for 2014.
Regarding Greece, Atradius’ study indicates that within the framework of a full restructure of the economy, which is showing weak signs of recovery, the situation is still rather problematic, with the trade credit insurer noting that growth may return to Greece in 2015, since insolvency increased 10% in 2013 and is expected to increase by 5% in 2014.
Greek respondents had the longest payment period compared to Western Europeans, (52 days versus a 32-day average) and they had to wait an additionally 50 days to collect outstanding payment from domestic clients, compared to the 23 days in Western Europe.
