State arrears reach 5.47 bln euros

State arrears reach 5.47 bln euros

The expired debts of the state to the private sector soared to 5.47 billion euros in January, from 3.95 billion a year earlier, according to monthly data released by the Finance Ministry on Thursday.

This has led to a primary budget surplus of 1.2 billion euros in the year’s first month, against a primary surplus of 381 million in January 2015.

Compared with December 2015, state debts increased by 91 million euros. There was a monthly decline in pending tax rebates from 739 million euros in December to 706 million in January.

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