ECONOMY

Revenues post major decline this month

State revenues have deteriorated further in April, both in terms of direct and indirect tax collection, with value-added tax takings at a record low.

Finance Ministry officials told Kathimerini that up until Wednesday, April 29, available data showed that revenue collections added up to just 600-700 million euros, against a target for 1.8 billion euros this month. In the best-case scenario the shortfall will come to 400 million euros – as many taxpayers pay their dues on the last day of the month.

The crumbling of revenues is attributed to the reduced activity in the market and the debt repayment programs that have absorbed any available cash that small and medium-sized enterprises did have.