ECONOMY

Record sum of new debts to the state in August

Expired debts to the state rose to a record high in August, according to data released on Friday by the Finance Ministry. The sum of taxes and fines that remained unpaid after their deadlines exceeded 1.4 billion euros, adding to the government’s concerns about the progress of state revenues.

In the period from January to August, new expired debts to the state came to 8.65 billion euros.

Finance Ministry officials said that the large increase in debts to the state during August was largely due to expectations created in recent months regarding an increase in the number of repayment installments, as well as citizens’ multiple tax obligations during 2014 and the fact that many taxpayers go on vacation in August and put off their obligations until the following month.