European Commission: Greek State Owes €8 Bln to Businesses, Individuals



elliniki-europaiki-simaia-570-800x535The total debt of the Greek State to businesses and individuals was 8 billion euros at the end of September, according to the European Commission.

Despite the fact that the Finance Ministry has repaid part of the outstanding debts, the total amount is still soaring.

Specifically, in late September the State debts were:

  • 3.6 billion euros to suppliers
  • 1.4 billion euros in tax returns to businesses that have been approved by the tax authorities
  • 1.6 billion euros in tax returns to businesses that have not yet been approved by the tax authorities
  • 1.4 billion euros in pending pensions

The figures come from the European Commission report on the basis of which the disbursement of 2.8 billion euros in bailout loans was approved.

The figures differ from those announced each month by the Finance Ministry, as the data from the latter do not include due pensions and amounts related to tax returns that have not yet been approved by tax authorities. Also in the debts to suppliers, the ministry continues to calculate the clawback and the rebate, while the European Commission does not take them into account.