The out-of-court mechanism moved at significantly higher rates in August this year, compared to the corresponding month last year.
More specifically, according to the data announced by the Ministry of National Economy and Finance, 1,039 arrangements were recorded last month, amounting to more than 322 million euros, showing an increase of 50.36% compared to the 691 arrangements in August 2023.
Accordingly, new applications reached more than double the number compared to the corresponding month last year. In particular, there were 3,031 new applications in August 2024 compared to 1,280 applications in the same month of 2023.
Moreover, a total of 22,214 successful arrangements for initial debts amounting to 7.52 billion euros have been recorded through the out-of-court mechanism by the end of August.
The approval of financial institutions ranges at a high percentage of 70% on average, while the rejections of debtors are at an extremely low percentage, i.e. 5% for multilateral and 1% for bilateral arrangements.
Additionally, since the mandatory acceptance of an arrangement proposal for vulnerable debtors came into force, a total of 1,162 vulnerable citizens were accepted and 72 have made use of the prepayment measure, managing to suspend the auction.
Attica and Central Macedonia have the largest concentration rates with 47.08% of total debts.
