Greek state arrears to private sector down significantly in 2016

Greek state arrears to the private sector fell significantly in December 2016 to 3.310 billion euros from 4.162 billion in November, the Finance ministry said in a report released on Monday.

The report said that the ministry disbursed a sum of 3.066 billion euros for the repayment of state arrears to the private sector in 2016, with credit offered for this purpose in November totaled 991.6 million euros and in December 88.7 million euros. Total payment from state agencies to the private sector was 2.748 billion euros in 2016. Social insurance organizations, which have the largest part of arrears to the private sector, paid 922.3 million euros in debt repayment last year, cutting their debt to 2.024 billion euros.

State hospitals repaid debt worth 1.035 billion euros in 2016, while liabilities from tax returns fell to 1.225 billion euros in December, from 1.439 billion a month earlier.