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Almanach PZF 2016

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52 | Eric timmermans<br />

Comparing factoring annual rates of growth with real EU GDP growth,<br />

it can be seen that factoring has been growing regardless of the economic<br />

situation of the EU.<br />

*Exchange rates fluctuation biases were eliminated.<br />

Analysis of GDP penetration ratio by country reveals that in nine countries<br />

GDP penetration ratio was higher than EU average – see table below.

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