ECONOMY

State debt and interest payments fell in Q3

The Greek state debt declined by 2.2 billion euros in the third quarter of 2014 on an annual basis, amounting to 315.5 billion euros against 317.7 billion in the July-September 2013 period, data released by the Hellenic Statistical Authority (ELSTAT) showed on Tuesday.

The interest paid to the country’s creditors amounted to 1.65 billion euros in Q3 last year, against 1.78 billion euros in the same period in 2013 and 1.98 billion in 2012.

ELSTAT figures also confirmed the drop in state revenues in the third quarter of 2014 compared to the two previous years, reaching 20.5 billion euros against 23.9 billion in 2013 and 21.8 billion in 2012. Expenditure in July-September came to 20.8 billion euros, down from 23.7 billion in the same period in 2013.

Salaries and other payments to civil servants and other employees of the general government (including social security funds etc) stayed put in the third quarter of last year from 2013, amounting to 5.25 billion euros. In the second quarter of last year they had totaled 5.1 billion euros. Social benefits reached 9.5 billion euros, against 9.4 billion a year earlier.