ECONOMY

Industrialists: State coffers are set to run dry

industrialists-state-coffers-are-set-to-run-dry

Industrialists warned on Thursday that unless Greece’s latest international bailout program is implemented immediately the state will run out of cash as early as November.

In an appeal to politicians, the Hellenic Federation of Enterprises (SEV) noted that the measures agreed with the country’s creditors need to be applied as soon as possible in order to wrap up the review of the program and allow the disbursement of a total of 3 billion euros by early December. Otherwise, they warned, Greece will be unable to pay an installment of 1.2 billion euros to the International Monetary Fund due in December.

SEV calculated that without the tranches the state will be left with just 200 million euros in November, while facing a bill of 3.1 billion.