State’s third-party debts shrink in November, but still high

4 January 2017
23 Views

The Greek state’s debts to third parties like goods and services suppliers shrank by 727 million euros in November compared with October, according to Finance Ministry data.

The arrears decreased from 6.3 billion euros to 5.6 billion euros, yet remain particularly high given that Greece received 1.8 billion euros in June from the European Stability Mechanism (ESM) to settle its debts and borrowed another 1.7 billion euros in late October.

According to the Finance Ministry, by end-November, the state’s debts were shaped as follows:
• Social security organizations owed 2.37 billion euros from 2.7 billion euros in October and at the start of 2016.

• Hospitals owed 758 million euros from 987 million euros in October and 931 million euros at the start of 2016.

• Ministries and the agencies they supervise built up arrears of 280 million euros from 238 million euros in October.

• Local authorities made some progress, with debts of 358 million euros in November from 366 million euros the previous month.

• State-owned legal entities also contained their arrears to 393 million euros in November from 411 million in September.

• Pending tax returns came to 1.4 billion euros in November from 1.6 billion in September and from 1.2 billion euros at the start of 2016.

You may be interested

IMF agrees on Greece’s progress, looks for “more specificity” on assumptions and debt measures
FINANCE
shares38 views
FINANCE
shares38 views

IMF agrees on Greece’s progress, looks for “more specificity” on assumptions and debt measures

Panos - May 23, 2017

Acknowledging the progress on the second review of the third bailout program, the Director of the IMF’s European Department Poul…

Russian PM: Turkish Stream will enter EU via Bulgaria or Greece
FINANCE
shares46 views
FINANCE
shares46 views

Russian PM: Turkish Stream will enter EU via Bulgaria or Greece

Panos - May 23, 2017

Russia is in negotiations with Greece and Bulgaria regarding the entry point on EU territory of the Turkish Stream gas…

Bloomberg: Hedge Fund Basks in World-Beating Surge for Greece’s Markets
FINANCE
shares52 views
FINANCE
shares52 views

Bloomberg: Hedge Fund Basks in World-Beating Surge for Greece’s Markets

Panos - May 23, 2017

The odyssey of Greece and its economic crisis has taken a positive turn in recent months, and hedge funds are…

Leave a Comment

Your email address will not be published.