Monday September 22, 2014 Search
Weather | Athens
27o C
19o 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)  
Pegging reforms to debt relief acts
Demand for diesel boosts total fuel sales
Foreign investors not overly concerned about political risk
IMF unhappy over social security debt collection
Results of probe into 20 Lagarde list names due soon
Members of the Financial Crimes Squad (SDOE) and tax inspectors involved in an investigation into the so-called Lagarde list of Greeks with Swiss bank accounts expect to be able to announce ...
Police refute reports of Jihadi training
Greece is not a training ground for Jihadis, the Greek police said in a statement released late on Friday in response to reports in the local media claiming that radical Islamists have been ...
Inside News
SOCCER
Reds beat Veria to claim league lead
Olympiakos thumped hitherto Super League leader Veria 3-0 on Saturday to go alone on top of the table for the first time after four rounds of games. Four days after putting three past Atleti...
SOCCER
Triumph for PAOK, historic result for Asteras in Europa League
Greek teams produced a patchy record on the opening night of the Europa League group stage on Thursday, as PAOK thrashed Dynamo Minsk, Asteras Tripolis snatched a draw at Besiktas and Panath...
Inside Sports
COMMENTARY
Universities threatened by transfers
The problem arising from the abuse of the Greek university transfer system – whereby some students are allowed to move to an institution of their choice instead of the one they were admitted...
EDITORIAL
Capital changes
A sizable part of the middle of the Greek capital has been slated to receive a significant makeover with the implementation of an urban restructuring project which includes turning a key cit...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Reds beat Veria to claim league lead
2. Pegging reforms to debt relief acts
3. Demand for diesel boosts total fuel sales
4. Foreign investors not overly concerned about political risk
5. IMF unhappy over social security debt collection
6. Agenda
more news
Today
This Week
1. IMF unhappy over social security debt collection
2. Foreign investors not overly concerned about political risk
3. Demand for diesel boosts total fuel sales
4. Agenda
5. Pegging reforms to debt relief acts
6. ‘Greece can meet its needs on its own’
Today
This Week
1. Greece at bottom of social justice scale among EU28
2. Central Athens traffic restrictions back in force on Monday
3. ‘Greece can meet its needs on its own’
4. Lost in the fog
5. Record sum of new debts to the state in August
6. Democracy under Pressure | Live Streaming
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.