Brussels Gives Spain Two Months To Cut Late Payments By The Public Sector, Which Owes Over 80 Billion Euros To Suppliers

Yesterday, Wednesday, the European Commission gave Spain a two-month ultimatum to reduce the “excessive” delays in payments by autonomous communities and municipalities to their private sector suppliers to avoid the matter ending up in the EU Court of Justice. Spain’s public administrations owed their suppliers over 83.35 billion euros at end-2020, according to data from the Bank of Spain. The debt – which is equivalent to the transfers Spain expects … Continue reading Brussels Gives Spain Two Months To Cut Late Payments By The Public Sector, Which Owes Over 80 Billion Euros To Suppliers