Greek Government Arrears Repayment of 1.1 Billion Euros in July



euros_2146219bAccording to figures released by the Bank of Greece (BoG) and the General Accounting Office on Thursday, the Greek government has deposited 1.1 billion euros back into the Greek market.

The payment in arrears went, for the most part, to payments in July that covered some 970 million euros of liabilities of general government agencies to suppliers as well as some 139 million euros going towards compromised tax refunds.

Also Greece’s Alternate Finance Minister, Gorges Houliarakis, has released data saying that the ministry has already approved an additional 1.6 billion euros to be given to the country’s state agencies for usage in debt repayments, giving them a total of 500 million euros at their disposal. There is an additional 200 million euros currently pending approval for state agencies.

The report released by the BoG also showed that in the last 7 months, Greece’s central government primary cash surplus fell by 607 million euros amounting now to 2.38 billion euros. For the same period the previous year, Greece’s primary cash surplus was at 2.99 billion euros.