English Section

Seven in 10 Polish firms fear liquidity crunch amid pandemic: survey

20.04.2020 07:30
Seven in 10 companies in Poland are worried they could face a liquidity crunch amid the Covid-19 pandemic, according to a study.
Pixabay License
Pixabay LicenseImage by Gerd Altmann from Pixabay

Seventy-one percent of micro, small and medium-sized enterprises polled in a survey commissioned by debt data provider BIG InfoMonitor said they could face problems with maintaining their financial liquidity because of a coronavirus lockdown, Poland’s PAP news agency has reported.

Meanwhile, 57 percent of firms said they could be forced to stop paying their business partners due to the pandemic. Two-thirds of firms with fewer than nine employees voiced such concerns.

Sixty-seven percent of businesses said they expected delays in orders and deliveries.

According to another survey commissioned by BIG InfoMonitor, almost half of Poles are equally concerned about health risks and how they will pay their bills amid the Covid-19 pandemic.

study by the Polish Economic Institute found that more than a quarter of companies in Poland have adopted a strategy of layoffs as a way of dealing with the coronavirus crisis, and almost half see a need for pay cuts.

Meanwhile, one in four employees surveyed in Poland by human resources firm Randstad said they were afraid of losing their job due to the coronavirus disruption.

The Polish government has come up with a multibillion relief and stimulus package to mitigate the economic implications of the pandemic.

Poland’s president at the end of last week signed into law a measure to offer more support to the nation’s economy amid the coronavirus crisis.

(gs/pk)

Source: PAP