New Framework for €250 Billion Private Debt

The Ministry of National Economy and Finance is considering measures to manage private debt, which exceeds €250 billion. The debts concern the Tax Office, Funds, servicers, banks and Public Utilities.

Specifically, private debt includes:

• Overdue debts to the Tax Office: €110.7 billion (€84.4 billion active debt)
• Debts to insurance funds (KEAO): €49.7 billion
• Debts to servicers: €74-75 billion
• Debts to banks: €30-35 billion
• Debts to Public Utilities: €10-12 billion

Total private debt exceeds €250 billion, an amount corresponding to almost 115% of the country's GDP.