Working capital management

The European Bank for Reconstruction and Development (EBRD) provided $50 million in trade finance to the Türk Ekonomi Bankası (TEB).

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The facility, aiming to boost support for exporters and importers, will be channeled under the EBRD's Trade Facilitation Programme (TFP), according to a statement by the bank.

Prime Minister Ludovic Orban said that the Government is currently drafting several state aid schemes aimed at guaranteeing factoring, leasing for the purchase of equipment and guaranteeing the discount of payment instruments. "We are in the process of drafting several state aid schemes.

Italy's BFF Banking Group announced on Thursday it will open a branch in Greece in the year's third quarter, after receiving the necessary permits from the central banks of Greece and Italy.
The group has been supporting its clients in Greece since 2017, having acquired over 100 million euros of requirements from the Greek market.

Intrum, Europe's biggest debt collector, reported on a 66 percent drop in first-quarter profit hit by a writedown and weaker credit management in southern Europe but a mostly stable performance so far this quarter.

The crucial report by the certified accountant on the state of Public Power Corporation is expected on Tuesday, along with the governing board's approval and publication of the utility's first-half financial results.

Greece has one of the most attractive programs for foreign investors to acquire property. A comparative study by Portuguese property service company Imovirtual showed that Greece's Golden Visa program for the provision of a five-year residence permit is the second cheapest in the European Union and the fifth cheapest globally.

The finance ministry in the third quarter of 2019 will launch a pilot programme regarding the electronic declarations of invoices and companies' bookkeeping.

The aim is to create a framework for the mandatory electronic submission of invoices and bookkeeping for all businesses and freelance professionals, as of 1 January, 2020.

Blocking resources hinders investment and the possible entry into new markets

Additional difficulties for small and medium-sized enterprises due to tightening the bank lending regime in Europe are also expected.

Seven out of 10 companies in Romania postpone the payment of their invoices, while the average duration to cash an invoice at the level of the economy reached almost 120 days, a poll-based select analysis says.

The funding deficit is growing in the Greek economy, as there was a sharper credit contraction in April, data from the Bank of Greece showed on Tuesday.

The pace of financing Greek households and enterprises stood at -1.9 percent last month, from -1 percent in March and -0.9 percent in February.