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The economy still has room to absorb the oil price slump, but a long-term period of low oil prices would hurt. Economic diversification is on the agenda.

A moderate economic rebound is expected in 2016 and 2017, given that the domestic security situation will not again hurt tourism and business sentiment.

As the oil price decrease has a negative impact on government revenues and lending conditions, many businesses face liquidity issues and payment delays.

The economy in Eastern Europe is forecast to continue growing 1.1% this year. However, trade credit risk from foreign late payment is on the rise.

Poor payment practices of B2B customers caused financial distress on businesses in Western Europe and a ripple effect throughout the whole supply chain.

Survey findings point to Great Britain as the country in Western Europe that is the most impacted by late payment from export customers.

Insolvencies are forecast to fall only 3% across advanced markets in 2016, the worst performance since 2012.

Business insolvencies expected to increase 6% in 2016 as the slump in the mining sector continues.

Economic growth forecast to slow down to 6.3% in 2016, but no hard landing expected for the time being.

Robust growth, but high levels of corporate debt. The pace of structural reforms remains too slow.