Parliament’s Draft Budget Postpones Privatization Revenues Until 2017

greek flag syntagmaParliament tabled a draft budget for the major privatization projects on Monday, reasoning that the state will not be able to see substantial revenues into coffers until 2017 when they are completed.

Privatization revenues from projects such as the regional airports, gas grid operator DESFA, railway service operator Trainose, the Elliniko development in southern Athens will not be put towards this year’s 2 billion euro target for sell-offs, due to the fact that the infrastructures are not yet complete.

The result of the draft budget tabled by Parliament means that the state coffers will see revenues from sell-offs come to only 500 million euros against the projected goal of 2 billion euros.

On the positive side, the government says that revenues for 2017 are looking like they are going to be coming higher than expected, projecting a 2.5 billion euro taking compared to the previously projected target of 2 billion euros.