BUSINESS

Debts to farmers’ fund more than double of revenues

TAGS: Economy

Debts to the OGA social security fund for famers rose to 140 percent above annual revenues in 2016, reaching 821 million euros against contribution payments of 588 million euros, figures from the Labor Ministry have shown.

However, the Labor Ministry says, contribution payments were on the rise last year, as OGA collected 588.3 million euros in the second half of 2015 and first half of 2016, compared with 488.8 million euros in 2015 as a whole.

The number of members with outstanding debts to the organization at the end of 2016 also gives cause for optimism, as they came to 310,591 on December 31, owing a total of 821,810,000 euros, a decline from the previous year, when the number of debtors stood at 344,733, with arrears of 857,418,000 euros. 

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