Sunday February 1, 2015 Search
Weather | Athens
16o C
13o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Cash deficit just short of 25 bln euros

By Prokopis Hatzinikolaou

The state’s cash deficit amounted last year to 24.88 billion euros, or 11.5 percent of the country’s gross domestic product, according to data issued on Thursday by the Finance Ministry.

It therefore seems that despite the harsh new tax measures and the cuts to civil servants’ pay in addition to to pension reductions, the government has failed to rein in the cash deficit, which appears to be 5 billion euros bigger than the general government deficit that the country’s creditors use to assess Greece’s performance.

At the end of December 2011, the Greek state’s overdue debts to suppliers came to 5.73 billion euros, compared with 6.66 billion euros at the end of November.

Out of that 5.73 billion euros, 589 million comprised ministry debts. The rest was made up of the debts of hospitals, local authorities, social security companies and other general state corporations.

The ministry suggested that the cash deficit grew in 2011 due to the payment of outstanding debts to the private sector from previous years, totaling 4.1 billion euros. A significant share of that concerns the debts of hospitals to their suppliers, which were settled with bonds within last year.

ekathimerini.com , Thursday March 8, 2012 (22:54)  
Coalition ally seeks tax amnesty to get cash back to banks
Dijsselbloem says Greece has to decide how to move ahead
ECB’s Constancio signals Greek waiver may end if program dropped
Greece starts countdown to cash crunch saying bailout over
A week in and Greece´s new leftist PM sticks to tough line, for now
Judging from Prime Minister Alexis Tsipras' first week in office, Greece's new leftist government is determined to take the hard-line, anti-bailout stance that international investors and Eu...
Greece starts drive to sell new debt deal to doubting Europe
Greece's leftist government on Sunday began its drive to persuade a sceptical Europe to accept a new debt agreement while it starts to roll back on austerity measures imposed under its exist...
Inside News
BASKETBALL
Panathinaikos preserves perfect home record
After yet another great performance at home, Panathinaikos defeated Galatasaray 86-77 in Athens on Friday to get to three wins in five games at the Euroleague top-16. The Greek champion shoo...
SOCCER
Gattuso: Unpaid OFI players couldn´t buy food
Former coach Gennaro Gattuso has lifted the lid on the plight of crisis-club OFI Crete which has been banned from playing in the Super League until it clears mounting debts with its staff. T...
Inside Sports
COMMENTARY
The dogma and the command center
We have reached a critical juncture. We have a new, inexperienced government trying to see if “the great negotiations” discussed by everyone, be they from the left or the right, on TV over t...
EDITORIAL
Silence will not be forgiven
It’s time for a turn toward realism, caution and logic. The negotiations with our partners and lenders must be concluded swiftly before the remaining healthy parts of the country’s productiv...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. A week in and Greece´s new leftist PM sticks to tough line, for now
2. Greece starts drive to sell new debt deal to doubting Europe
3. Coalition ally seeks tax amnesty to get cash back to banks
4. France open to easing Greek debt burden, says finance minister
5. Poll shows most Germans want Greece to stay in eurozone
6. France´s Sapin says Greece has no future outside the euro
more news
Today
This Week
1. Dijsselbloem says Greece has to decide how to move ahead
2. Greece shakes Europe's political kaleidoscope: expect the unexpected
3. France open to easing Greek debt burden, says finance minister
4. Greece offers olive branch to seek allies
5. Poll shows most Germans want Greece to stay in eurozone
6. The dogma and the command center
Today
This Week
1. Greek Elections 2015 | LIVE
2. SYRIZA heads for historic victory but without majority
3. EU must accept that Greek debt relief is inevitable
4. SYRIZA's win will test institutions
5. Greek Elections 2015: The day after | LIVE
6. Athens may veto further EU sanctions against Russia
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.