ECONOMY

Mardas: Gov’t needs 350-400 mln to pay wages and pensions

Alternate Finance Minister Dimitris Mardas said Wednesday that the government needed to find up to 400 million euros to cover April spending.

“We have a 350- to 400 million euro revenue shortfall that needs to be covered by the end of the month in order to meet the country’s needs,” Mardas told Mega TV on Wednesday referring to payment of salaries and pensions.

In a controversial move, the Greek government issued a legislative act on Monday requiring public sector entities to transfer idle cash reserves to the country’s central bank, as part of efforts to deal with a cash squeeze.