By S. Papapetros
[email protected]
The unified social insurances fund (EFKA) appears to be easily exceeding revenue targets in the first five months of since its inception, posting a surplus of 91.4 million euros when a forecast deficit was budgeted at 318 million euros over the same period.
Creating a "supra-fund" to include most of Greece's social security funds, including the largest entity for private sector wage-earners, IKA, was a necessity born out of the ongoing economic crisis and memorandum-mandated obligations.
Specifically, revenues from contributions flowing into EFKA's coffers between January 2017 and May 2017 reached 15.6 billion euros, with expenditures over the same period totaling 14.9 billion euros.
According to figures presented by "N", the cash surplus in the first five months of the fund's creation reached 698.9 million euros, a sum that includes 618.5 million euros from contributions collected by EFKA for other funds and state-run health care providers.
