ECONOMY

Wage bill for DEKOs drops 15 percent

Greece’s total wage bill for 52 state-owned companies (DEKOs) dropped 15 percent in the first nine months of the year, the Finance Ministry said yesterday. Nine-month salaries for DEKOs fell to 812.3 million euros, from 955.7 million in the same period a year earlier, it said in a statement. Salaries at Trainose, which operates railway services, dropped 17 percent to 69.4 million euros in the period, the ministry said. The company posted a 140-million-euro loss in the period, with revenues totaling 74.4 million euros, according to the statement. Greece estimates the sale of 49 percent of Trainose could raise as much as 35 million euros. The Hellenic Railways Organization (OSE) had a wage bill of 5.8 million euros, compared with 7.5 million a year earlier, a reduction of 23 percent, according to the statement. Steep cuts in wage bills, ranging from 24 percent to 28 percent, were also implemented at state racetrack operator ODIE and the Greek National Tourism Organization.