Outstanding Debts to Greek State Exceed 69 Billion Euros

debtsOutstanding debts to the Greek state hit a record high, reaching 69.24 billion euros in August, compared to 68 billion euros in July 2014.

The amount of debts to the state is still huge, although 2.8 million citizens paid owed taxes in August, much more than in previous months.

It appears that debtors in Greece used their vacation allowance to repay their debts to the Tax Service instead of going on vacation, as the Greek state collected 1.6 billion euros in August, compared to 1.2 in July.

Greek taxpayers paid 1.1 billion euros in June, 1.2 billion in May and 1.1 billion in April.  Within 4 months, the debt rate repayment increased by almost 50% but outstanding debts increased by 7 billion euros (62,3 billion euros in April).

Austerity measures, cuts in wages and pensions as well as increased taxes, are making Greek citizens unable to pay their debts.