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Taxes in Greece increased by 984 million euro

24 October 2014 / 19:10:56  GRReporter
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Over the course of three months alone repayment obligations of property and income taxes have increased by 984 million euro as shown by the latest data of the Greek statistical service ELSTAT.

At the end of the second quarter of 2014, the taxes due increased to 4.79 billion euro in comparison with 3.806 billion euro in the first quarter. Compared to the second quarter of 2013, the difference is around 460 million euro.

At the same time, public sector wages reported a new decline of 50 million euro. ELSTAT data show that in the second quarter wage costs fell to 5.158 billion euro compared to 5.208 billion euro at the end of the first quarter of 2014. Wage costs of the state budget decreased by 458 million euro in comparison with the second quarter of 2013.

However, there was an increase in the spending on social benefits. At the end of the second quarter, it amounted to 9.483 billion euro in comparison with 9.215 billion euro in the first quarter. The difference is due to the 525 million euro distributed in May in the form of social assistance.

The data are the result of the quarterly non-financial accounts of the government sector.

They show that the nominal value of the Greek government debt at the end of the second quarter amounted to 317.499 billion euro, reporting an increase of 2.5 billion euro in comparison with the first quarter of the year.

Tags: EconomyTaxesGovernment debtPublic sector wagesGreek statistical service
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