Greek News Economy Social Security Debt Grows by 827 Million in Second Quarter

Social Security Debt Grows by 827 Million in Second Quarter

Arrears to social security funds increased by 827,180,068 euros in the second quarter of the year according to a report Friday by the Center for the Collection of Social Security Arrears (KEAO).
More specifically, 533.7 million euros of this spike related to an increase in principal debts, while 293.4 million euros came from increases in surcharges. In the second quarter, KEAO added 205,980 new debtors to its lists, with debts totaling 473.4 million euros.
As Kathimerini reports, the KEAO report shows that efforts to help people settle their debts are failing. Of the 203,724 debtors who came to an arrangement to pay outstanding fees in installments, by the end of June only 57,217 were still paying.
Social security debt grows, says Kathimerini, due to people’s inability to keep up with existing debt settlement plans and the fatigue of those who until now had been able to meet their obligations.

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