ECONOMY

Issues with privatizations move goalposts

In its report published on Monday, the European Commission expressed its dissatisfaction with Greece’s progress on the privatizations front, saying that the speed of the process is not fast enough, although it did acknowledge the significant work done to date in preparing sell-off projects.

As a result of the privatization delays the Commission has revised the annual revenue targets: Against a previous target of 11.1 billion euros by end-2016, the Commission now expects 10.7 billion euros.

For the decade up to 2022, the revenues anticipated are 24.2 billion euros, a far cry from the original 50-billion-euro goal.

For this year, Brussels expects 187 million euros from the sale of gas transmission network operator DESFA, 133 million from the concession of the state lotteries permit and 622 million from the sale of 33 percent of OPAP. It has now set a date for the further privatization of Hellenic Petroleum in December 2013.