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Prior to the pandemic, trade credit was used in more than 80% of B2B sales in the Czech Republic. After the virus brought most of the world to a standstill, this plummeted to about 50%.
Sweden has followed its own path during the COVID-19 pandemic and, although more people are working from home than before, the country has avoided the lockdowns seen elsewhere in Europe.
The economic growth that Bulgaria had been enjoying last year stalled with the onset of the COVID-19 induced recession. Ongoing economic challenges are causing stress for Bulgaria-based businesses.
Widespread use of credit insurance, combined with anti-insolvency support and legislation, has helped insulate many businesses from the more negative economic impacts of the pandemic.