Amount Greeks owe their state rises to 54 billion euros

There was an increase of more than 5 billion euros in the amount of money Greeks owe the state last year and stands at over 50 billion euros this year, according to figures provided to Parliament by the Court of Audit.

The court informed MPs that while debts to the state stood at 38.7 billion euros at the end of 2010, they rose by 21.1 percent last year to reach 44 billion euros by the end of 2011. This was the equivalent of 21.1 percent of Greece’s GDP.

Auditors said that the figure at the end of October this year had increased to 54 billion euros, or 27.7 percent of GDP.

Meanwhile, the number of bounced checks in November stood at 72.5 million euros, which was down 8.2 percent on the previous month and 56.3 percent less than a year earlier.

The total number of dud checks for the year came to 1.25 billion euros by the end of November, which was down 35.7 percent on the same period in 2011.