Bureaucracy Blocks Instant Transfers: Public Sector Delays Implementation
While the private sector is preparing to benefit from the new EU regulations on immediate payments, the Italian Public Administration is once again struggling to keep up. According to an analysis by Unimpresa’s Research Center, the public treasury system and complex administrative procedures will prevent the PA from complying with the timelines set by Regulation (EU) 2024/886.
A circular issued by the General Accounting Office confirms that public entities will not be ready to implement the changes anytime soon, creating a gap between private businesses and state suppliers. This delay primarily penalizes SMEs, which risk missing out on a crucial tool for cash flow management and reducing insolvency risks.
A Two-Speed System: Private Sector Advances, PA Suppliers Left Behind
The EU regulations require instant transfers to be completed within 10 seconds, available 24/7. However, the circular clarifies that this timeframe will only begin after completing accounting and administrative checks, which are often subject to bureaucratic delays.
The main concern is the creation of a two-speed system: while businesses will receive instant payments from private customers, state suppliers will still face long waiting times. This could exacerbate financial difficulties for companies working with the public sector.
Delayed Receipts: Companies Left Waiting
Another critical issue concerns instant receipts. Although public administrations must be able to receive instant transfers by January 9, 2025, the actual availability of funds may still be delayed due to treasury procedures.
In some cases, the Italian public sector still exceeds 60 days for payments, far beyond the limits imposed by EU laws. This situation creates financial strain for businesses dealing with the government.
Unimpresa: “This Delay is Unacceptable, the Government Must Act”
Unimpresa’s President, Giovanna Ferrara, strongly criticizes the situation:
“Once again, the Italian Public Administration fails to keep up with innovation. SMEs, which rely on fast payments, will be the most affected. Bureaucracy is blocking a reform designed to speed up payments.”
Unimpresa demands an immediate discussion with the Ministry of Economy and Finance (MEF) to define an accelerated adjustment plan. Businesses cannot wait years for a right that the private sector already enjoys. The government must act now to ensure equal treatment between public and private entities.
What Do You Think About This Situation?
The gap between the private sector and the public administration in instant payments could have severe consequences for SMEs. Should the government intervene immediately? Leave a comment in the form below and share your thoughts!
