BUSINESS

State went on creating new debts to third parties in 2016

PROKOPIS HATZINIKOLAOU

TAGS: Finance

The state’s debts to its suppliers were augmented by 1.6 billion euros during 2016, according to data issued by the Finance Ministry on Monday.

Even though 3.12 billion euros was paid back, ministries and state entities accrued new debts at a rate of 130 million euros per month. So, from the 6.03 billion euros the state owed in total to third parties at the end of 2015, the figure dropped to 4.53 billion a year later.

Outstanding tax rebates shrank by just 57 million euros within the 12 months, dropping from 1.28 billion euros at the end of 2015 to 1.22 billion at end-2016.

One of the most striking things about the unpaid rebates recorded is that there are cases where the state has not returned money owed to taxpayers and enterprises (mostly value-added tax rebates) that should have been paid four-and-a-half years ago.

Online