TAIPED aims at tak­ings of 6 bil­lion eu­ros by 2018

Kathimerini English - - Focus -

Greece aims to raise a to­tal of 6 bil­lion eu­ros from pri­va­ti­za­tions by 2018, the head of its sell-off agency TAIPED said yes­ter­day, mak­ing up for a rev­enue short­fall last year and hop­ing to over­shoot its lat­est bailout tar­get. Pri­va­ti­za­tions have been a ma­jor part of Greece’s three in­ter­na­tional bailouts since 2010, but po­lit­i­cal re­sis­tance and red tape have hurt rev­enues. Athens has raised just 4.4 bil­lion eu­ros so far and has re­peat­edly re­vised tar­gets down­ward. The coun­try raised 500 mil­lion eu­ros from as­set sales last year, miss­ing its bailout tar­get by about 2 bil­lion eu­ros, mainly due to de­lays in com­plet­ing the lease of 14 air­ports to a con­sor­tium led by Ger­many’s Fra­port. The 1.2-bil­lion-euro lease of re­gional air­ports was com­pleted this year. Along with the sale of a 67 per­cent stake in Thes­sa­loniki Port and a first 345-mil­lion-euro tranche from the con­ces­sion of the Elliniko plot, the lease will help Athens raise 2 bil­lion eu­ros in to­tal this year, TAIPED’s chair­woman Lila Tsit­so­giannopoulou told re­porters. “Our aim is to have the fi­nan­cial clos­ing of the trans­ac­tion[for Elliniko] in De­cem­ber 2017,” she said. ber of of­fi­cially un­em­ployed peo­ple reached 1.04 mil­lion peo­ple. Hard­est hit were young peo­ple aged 15 to 24, with their job­less rate drop­ping to 45.5 per­cent from 49.9 per­cent in April last year. The job­less rate hit a record high of 27.9 per­cent in Septem­ber 2013. sheets of some EU mem­ber-states’ banks, seen as a prob­lem for the whole bloc be­cause of spillover risks. While NPLs dropped to 4.8 per­cent of all loans in the EU in the first quar­ter of 2017, they re­mained well above 40 per­cent in Greece and Cyprus, at 18.5 per­cent in Por­tu­gal and 14.8 per­cent in Italy, Euro­pean Bank­ing Author­ity data shows.

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