Public Debt to Individuals Swells to €3.4 Billion Including Pending Tax Refunds

The relentless rise in public debt owed to individuals continues, with the ‘overdue debts’ increasing by €195 million, pushing the total debt to €2.5 billion compared to €2.3 billion in December 2024. According to data from the Ministry of Finance for January 2025, the ‘red debts’ of the public sector reached €2.511 billion. When pending tax refunds amounting to €915 million are added, the total reaches €3.426 billion. In December 2024, the unpaid liabilities of the public sector along with pending tax refunds were just above €3 billion, according to ertnews. Hospitals lead the list of creditors, with their debts continuing to grow, causing liquidity problems for suppliers and businesses. They added an additional €154 million in debt to individuals since December 2024, reaching €1.318 billion. Despite a budget allocation of €400 million in 2024 to cover hospital liabilities, their debts continue to swell, rising from €344 million in December 2019 before the pandemic, to €502 million in 2020, €606 million in 2021, €907 million in 2022, €1.319 billion in 2023, and €1.164 billion at the end of 2024. Overdue debts of Social Security Organizations increased to €597 million from €585 million last December. The Organization for Public Health saw overdue liabilities reach €243 million from €231 million. Legal entities of the General Government owe €194 million in the market compared to €179 million in December 2024. There was also a significant increase of approximately €190 million in pending tax refunds, rising to €915 million from €731 million in December 2024. Notably, AADE is seeking tens of thousands of individuals and businesses entitled to VAT and income tax refunds exceeding €200 million but cannot locate them due to missing IBAN and contact details.