BUSINESS

Finance minister states confidence in sell-off fund

By Vangelis Mandravelis

In an official statement released on Tuesday, Finance Minister Yannis Stournaras said this year will be the most prolific on the privatizations front, adding that the government has never contemplated transferring the seat of state sell-off fund TAIPED abroad.

Stournaras estimated that “2014 will be the most efficient year of the program under implementation, with considerable benefits for the Greek state and the country’s economy.”

Nevertheless a series of sell-off projects that should have been up and running since last year are yet to start, while the target for revenues of 2.8 billion euros from privatizations this year which the government and its creditors have agreed between them appears very hard to attain given the obstacles and delays in the process, to say nothing of the official 3.56-billion-euro revenues target. TAIPED officials say those targets harm the fund’s image.

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