Privatization goal at 17 bln euros up to 2060

Privatization goal at 17 bln euros up to 2060

A European Commission report seen by Bloomberg puts the target for Greek privatization revenues at 17 billion euros from 2017 to 2060. This will include 4 billion euros from bank assets.

The compliance report Brussels has issued on Greece adds that over the course of the third bailout period (2015-18) Athens must collect a sum of 5.7 billion euros from sell-offs and state asset utilizations, of which 4.1 billion should be banked this year and another 1.1 billion in the first eight months of 2018. Revenue forecasts are based on the done deals for the sale and operation of state properties.

Bloomberg added that revenues from bank asset sales will start coming from 2020 up to 2025. The baseline scenario provides for annual revenues of 400 million euros from bank assets. The report notes that three-quarters of the funds used for the lenders’ recapitalization in 2015 (4.5 billion euros) could come from the concession of bank assets. Already 2 billion of that has been returned to the state since February 2017.

Major takings are seen coming from the concession of cell network licenses and regional airports, the extension of the Athens Airport concession, and the sale of Thessaloniki Port, Elliniko SA and Trainose.

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