Awareness of corporate credit insurance is expected to change Hungarian businesses' debt-paying morals and even boost the economy, according to Martina Dobringer, chairman of the board at Цsterreichische Kreditversicherung Coface AG (OKV Coface), a subsidiary of the Paris-based Coface, speaking at the launch in Budapest of Coface Hungary.
"The credit insurance factor increased Austria's GDP by 1.2%," she said, adding that between 1990-2002 it has also established 60,000 workplaces. "Hungary could experience the same in the foreseeable future," she said.
Mikael Szabу, CEO of Coface Hungary, said uncertainty and lack of information is causing Hungarian suppliers an increasing amount of serious payment problems.
"It slows the economy while credit insured foreign suppliers rapidly gain ground in Hungary," he said. "We plan to reduce and even stop this negative situation," said Szabу.
