Construction companies that win public contracts are getting used to the fact that they are paid in 70 or 80 days after invoicing.
Since in many such cases, the projects are being co-financed by the European Union, the state simply tells the builder that it cannot pay faster because of EU regulations.
Janno Vink, CEO of Nordecon, says that since state and local governments account for about 70% of all construction, the problem is very acute.
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Filed under: Entrepreneurship, Government, Real estate
