TAIPED lowers revenues target

State sell-off fund TAIPED is setting next year’s revenues target much lower than the requirements of the bailout agreement and the country’s creditors, which amount to 3.5 billion euros.

In data presented to US investors a few days ago, TAIPED referred to projected revenues of 2.8-2.9 billion euros for 2014, as it considers that expectations of collecting revenues 2.7 times more than those of 2013 are simply not feasible.

TAIPED cites inherent difficulties in the privatizations program, as well as obstacles raised by external interventions, mostly by the European Commission, as in the case of the Public Gas Corporation (DEPA).

Government delays will also play a role, along with the intervention of Greek justice. For instance, the Council of State’s decision on whether the shares of water companies EYDAP (pictured) and EYATH were legally passed on to TAIPED for their sell-off is expected to determine next year’s revenues growth to a large extent.