BUSINESS

Finance Ministry to disburse 5.5 bln by end-2017 to cover debts to suppliers

TAGS: Finance

The state will pay off 5.5 billion euros’ worth of debts to its suppliers in the next 18 months, after a long period during which the Finance Ministry appeared to be following a policy of nonpayment.

A decision signed on Thursday by Alternate Minister Giorgos Houliarakis determined the procedures for the transfer of credit to various entities of the central and general government so that they can pay their dues.

The decision provides for the ministry to disburse 3.5 billion euros in the second half of 2016 and another 2 billion within 2017 for previous years’ arrears owed by hospitals, social security funds, ministries, local authorities etc.

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