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Despite the economic slowdown, Coface’s latest survey on business payments in Poland shows that payment delays have systematically shortened since 2017 - but the impact of the coronavirus epidemic on the Polish economy remains to be seen.
The 5th edition of Coface’s survey on corporate payment experience in Germany suggests that German companies have acclimatised to the pandemic environment, with more companies offering payment terms and a positive outlook from surveyed companies.
18 months after the start of the pandemic, access to vaccination is now the main factor setting the pace of people's daily lives and the global economy. GDP growth forecasts for 2021 have been revised upwards (+5.6%), but this is mainly the result of positive surprises from the United States. These improved growth prospects are reflected in world trade: after a 5% decline in volume last year, Coface forecasts an 11% increase for 2021.
Remote work has emerged as a new norm during the Covid-19 pandemic. This cultural shift could allow companies located in developed countries to hire teleworking talent in emerging countries to reduce their labour costs.