ECONOMY

Register for debts to the state

register-for-debts-to-the-state

A new register which will include all expired debts that households and corporations owe to the state will start operating by the end of 2022, the Finance Ministry’s Special Secretary for Private Debt Management Fotis Kourmousis announced on Tuesday.

This credit bureau will concern dues to tax authorities, the social security funds, local authorities etc which will be put together in a single database. That will allow the state to have sufficient information on the overdue arrears of individuals and companies, similar to the Teiresias register of bank debtors.

Kourmousis announced the creation of the Credit Rating Bureau next year at the NPL Management Conference organized by the DDC Financial Group in Athens.

“Data gathering in digital form constitutes a key step toward the optimum rating of households and corporations, as far as their credit capacity is concerned. It will also assist banks and servicers further in their efforts to achieve more efficient debt arrangements,” said Kourmousis.

The credit bureau will collect information on the transaction behavior of companies and households so as to form a score system used by those with a legal interest in it, such as banks preparing to issue a loan.