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About Us Embassy of Greece in London News Gov't unveils plan to repay 9.3 bln euros in state debts to private sector
Gov't unveils plan to repay 9.3 bln euros in state debts to private sector
Alternate Finance Minister Christos Staikouras on Thursday assured
that a substantial proportion of the state's 9.3-billion-euros figure in outstanding debts to the
private sector will be paid by the end of the year, while unveiling
the repayment timetable during a press conference.
The state owes 9.3 billion euros to the private sector, of which seven billion euros of the debt was generated in 2011, while the remaining 2.3 billion euros concerns debts of state organisations generated in 2012.
Staikouras said repayment of outstanding state debts to the private sector would be gradual, targeting at complete repayment by end-2013.
He said priority would be placed on the repayment of the debts generated up to end-2011, with the focus on payment of the retirement superannuities of 40,229 retired civil servants totaling 1.384 billion euro, debts to pharmaceutical companies that near 2.0 billion euro, and tax rebates totaling 738 billion euro.
Once the 2011 debts are
repaid, the state will begin repaying debts generated in 2012.
"The government the importance for the economy of the repayment of the outstanding state debts, which must be done speedily, simply and with transparency," Staikouras said.
He assured that with the disbursement of December's installment of the outstanding tranche of the EC-ECB-IMF bailout loan to Greece, the Greek government will be in a position to repay a substantial proportion of these debts.
