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Greece’s debt stood at €323.3bn in Q2 2018 from €309bn in Q2 2017

Greece’s sovereign debt stood at €323.378 billion at the end of the second quarter of  2018, from €309.091 billion in the corresponding quarter last year., according to ELSTAT’s quarterly non-financial general government accounts.
The Hellenic Statistical Authority (ELSTAT)  announced the quarterly non-financial accounts of General Government for the second  quarter of 2018 as well as data of the  General Government debt at the end of that period.
The quarterly non-financial accounts of General Government provide information on the aggregates constituting General Government revenue (taxes, social contributions, capital transfers, etc) and expenditure (compensation of employees, intermediate consumption, social benefits, interest payments, etc.”

Interest payment amounted to € 1.67 billion (8.2% of total government spending), compared to €1.424 billion in the second quarter of 2017 (7% of total spending).

The same survey shows that total government revenues amounted to € 20.188 billion from € 20,419 billion in the second quarter of 2017.

Taxes on income and wealth were €4.731 billion from €4.919 billion (23.4% of total revenues, while they were 24.1% last year).
Taxes on production and imports  were € 6.869 billion from € 7.063 billion (34% of total revenue from 34.6% last year).

Social contributions amounted to €6.499 billion euros from €6.505 billion euros (32.2% of total revenues from 31.9% last year).

Total government spending amounted to €20.368 billion from €20.27 billion euros in the second quarter last year.

Primary expenditure amounted to € 18.698 billion from €18.846 billion (representing 91.8% of total spending from 93% last year).

Compensation for employees were € 5.402 billion from € 5.318 billion (26.5% of total spending from 26.2% last year).

Social benefits were €9.081 billion from €9.319 billion euros (44.6% of total spending from 46% last year).
PS No matter how much we pay in taxes, debt remain above 300 billion euros. Therefore, no need to pay taxes….

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One comment

  1. I can give a few pointers. I moved to Rhodes last month and I tried to do some shopping, did some of the bureaucracy dances (adres registration, tax number, AMKA number etc.).

    Greece’s commerce should stop giving stuff away for free (or stop giving discounts… specially to expats). It would improve general income by about 20% (and should improve tax income as well).

    Bureaucracy… zomg…
    3-4 visits to the police station, just to get an adres registration??? If you bring the right papers the first time, it’s only 3 visits. -.-
    Fee for said registration €0.50 per person.
    Also they post opening hours, but are hardly ever open at said hours….
    (Had to buy a printer so I could print some bank statements for the police station’s adres regitration, had to prove I have €350 in my bank account. Went to the local ΚΩΤΣΟΒΟΛΟΣ, 20 people working there for 2 customers… how do they make money….??????????????????????????)

    So for your taxnumber, you visit an accountant who speaks English (VERY helpfull person. No not kidding. Sofar EVERYONE I have met is very helpfull. That is not the issue). They tell you and bring your passport, adress registration, rent contract (or ownership proof) of the house you live in, a paid energy bill and a translated or international birthcertificate. (I was one step ahead, and had everything with me!!! 🙂
    We went to the tax office, which took only 5 minutes.

    AMKA was next (at the tax office). Our accountant told us we needed our marriage contract translated by a certified translator (because my wife doesn’t have any earnings I had to prove that we are married). €0.08 per word. (certificate was 5 pages, filled with text) €260 excl VAT. This would take a couple of days.
    So we went to Piraeus Bank to open a new bank account (you need to show the tax office a percentage of electronic payments per month, to prevent tax evasion). They needed a translated tax declaration from my country (€60 each, so 2x excl VAT).
    Picked up the tranlated pages after the weeken, went to pick up our AMKA registration at the tax office again (the lady behind the desk excused herself for having a half-working AMKA registration system…. took about 20 minutes to fill in 2 of those (our names and our parents names…. 0.o ))

    I dread going to the IKA office tommorow (which I have been told is the most difficult/complicated registration…) anyway….
    Greek bureaucracy. “It could be a bit more efficient”. Ofcourse with DSL connections, and 80% of the people on the island using the Intarweb, it-is-going-to-be-slow… hence the broken AMKA system.

    I told about ΚΩΤΣΟΒΟΛΟΣ… but that was not the only shop that shoot themselves in the foot. The butcher gives away free meat, the local electronics shop sold me a €40 mosquito zapper for €35… The computer store says they are open from 09:00 untill 19:00 (went there @ 11:00 (to get that printer I need for the bank statement, went to KOTSOVOLOS instead), shop closed. Called the number, but the owner didn’t speak English so he hung up)

    It’s not laziness (which is the perception of Greek people in Europe), it’s the total lack of efficiency that is breaking/destroying the country. No wonder youths are fleeing and the countrie’s tax income is dropping by the minute.


    P.S. nothing personal against Greek people by the way. They are probably the nicest people I have met in Europe. They greet, call you sir and everyting (if you do that where I come from, you get punched in the face)