Newsroom

Non-payments remain at 2021 level, despite worsening situation, according to SPARK-Interfax data.


The level of non-payments in the economy remains low and deteriorated only slightly in April, despite a downturn in several sectors, according to the latest data from SPARK-Interfax.

The high level of payment discipline that emerged in the second half of 2022 persisted until March this year.
Preliminary data for the second half of April showы that settlements slowed to some extent, but correspond to the generally favorable first half of 2021, when 66%-69% of invoices were paid on time and 6%-8% were more than 60 days in arrears.
Payment discipline became even better in the second half of 2021, with more than 70% of invoices paid on time and less than 6% after more than 60 days.

Settlements with suppliers:

  Q3
2021
Q4
2021
Jan
2022
Feb
2022
March
2022
April
2022*
Invoices paid on time 70.3% 71.5% 72.5% 73.4% 72.8% 67.7%
Invoices paid up to
60 days in arrears
23.9% 23.0% 22.4% 23.2% 23.8% 25.6%
Invoices paid more than
60 days in arrears
5.8% 5.5% 5.1% 3.4% 3.4% 6.7%

 

* Preliminary data


A survey conducted by SPARK-Interfax experts in the middle of March among information providers for the payment discipline monitoring program showed that the overwhelming majority of respondents had not experienced a significant decline in the level of settlements by customers. However 76% anticipated a deterioration of payments discipline in the near future. Providers also said credit policy had become firmer and customers were being asked for payment up front. This, the experts say, could smooth a likely surge in non-payments in the future, however so far it is hard to assess the scale of that.
The results of the “state of the Russian economy and the activities of companies" monitoring conducted by the Russian Union of Industrialists and Entrepreneurs based on results for the first quarter show that the providers themselves are not seeing a surge in non-payments. Thus, non-payments by counterparties hampered the work of only 17% of companies - this possible response was not included in the top-5 limiting factors, for the first time in five years.

By way of comparison, non-payments by counterparties hampered the work of about a third of organizations during 2020 and 2021. The numbers ranged from 38.8% to 46.1% during 2019, depending on the month. In the crisis year of 2015, the figures ranged from 25.9% to 51.2%, while in five of the 12 months the figure exceeded 40%.
The SPARK - Payments Monitoring program contains information about the payment discipline of 900,000 organizations and individual entrepreneurs from various regions of Russia. It is updated on a monthly basis, making it possible to receive prompt data about the risks of delays with payments by organization, region and sector. Data about the prompt payment of invoices by counterparties are transferred to the system by the project participants themselves on a monthly basis. The Payment Discipline Index, available through the SPARK-Interfax system, is calculated on the basis of these data.

Case studies
Read our real case studies to learn more about the way Spark-Interfax helps clients to maximise opportunities and minimise business risks.
Learn more