Non-performing loans have dropped from 40% in July 2019 to 7.5% in March 2024, Finance Minister Kostis Hatzidakis said during a press conference on Monday.
Hatzidakis also referred to the extension of the Hercules program which is expected to further reduce the number of bad loans.
“We have taken an initiative in the EU so that the next phase of the Hercules program can advance,” the finance minister underlined and added: “I believe we expect a positive response from the European Commission soon, with an extension of the Hercules program by 1 billion euros.”
Supplementary budget
Hatzidakis also noted that in the next few days a supplementary budget will be submitted, which will increase the country’s public investment program by 900 million euros.
“This is a very important move, which I want to underline,” he stated, adding that the public investment program will rise from 12.2 billion euros to 13.1 billion euros.
