Outstanding debts to tax bureau exceed 50% of Greek GDP; uniquely high for EZ countries

Tuesday, 07 June 2016 11:33
UPD:11:37
REUTERS/DAVID W CERNY
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Another 664 million euros were added in April 2016 to the “red column” for outstanding debts to the tax bureau, with the sum now reaching the stratospheric 87.88 billion euros – roughly 50 percent of Greece’s GDP at present.

New outstanding debts to the tax bureau totaled 4.33 billion euros in the first four months of the year.

The figure as a percentage of GDP is atypical for European countries, with the second country on a relative list, Malta, posting a figure of 15 percent of GDP; 10 percent for Cyprus. Moreover, all the other remaining Euro zone member states show obligations towards their respective tax bureaus as under 10 percent of GDP.

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