Companies’ liquidity fall down, economists welcome it

opublikowano: 07-02-2008, 16:43

Warsaw (Puls Biznesu) – Liquidity of Polish companies is falling. Economists believe this is good news because entrepreneurs are finally starting to use their money.

Cash on disposal of companies is shrinking. The liquidity index showing to what extent companies are able to pay back their debts on time will fall in 2008 to 27 percent from 31 percent, experts of PKPP Lewiatan forecast. This does not mean that the financial situation of the companies is deteriorating. On the contrary – companies know how to use their money and to multiply them.

Recently, the index have been growing. In 2006, it amounted to 35.1 percent.

“This level was too high. We had over-liquidity, too much money was lying on bank accounts”, Malgorzata Krzysztoszek, PKPP Lewiatan expert explained.

Economic boom was the reason. Now, free cash of companies is shrinking. Entrepreneurs no longer freeze their money but they invest them.

“The liquidity index decrease to 27 percent is a positive development. It means that companies are in a good condition. It does not mean that they are developing more slowly”, Piotr Bielski, BZ WBK economist said.

“There are no reasons to worry. 27 percent is still too high a level. Companies can invest a bigger part of their money. A level which is safe to all sectors amounts to 20-22 percent”, Stanislaw Kubielas, economist of the Warsaw University believed.

“Fundamentals of the Polish economy are stabile and based on investments. That’s why there is no threat of a sudden slowdown. Even with the worst scenario of GDP of 1-2 percent, the cash liquidity index of 27 percent would provide soft landing to Polish entrepreneurs. The cash they have would let them avoid problems with paying back their credits”, Malgorzata Krzysztoszek.

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