BUSINESS

FinMin: debt to be partly repaid by securitizing selloff revenue

Greece plans to repay part of its debt through the securitization of revenues from privatization projects, Finance Minister Yannis Stournaras said on Friday during the presentation of the results of the PricewaterhouseCoopers 16th global annual survey.

Greece aims to start with the funds it borrowed to complete its 11.3-billion-euro bond buyback program, with the assets concerned being a range of real estate properties slated for selloff.

Stournaras pointed to a clear improvement in the Greek climate, noting that the economy has stabilized in recent months, but stressed that more needed to be done on the level of tax collection. The cornerstone of a forthcoming overhaul of the tax system will be an electronic assets register that is currently being compiled, he said.

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