ECONOMY

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.