Economy at a Glance

Economy at a Glance

In the current economic environment, we observe that:

  1. According to official data from the GEMI the first days of this year (up to 9/2) business cancelations were almost (4.954) more than twice of the new initials set up (2.303).
  2. The overall increase of the overdue debts to the State for 2015 reached 11.05 billion. Euro.
  3. The total overdue debts at the end of 2015 to the State reached 85 billion Euro compared to 73.7 billion at the end of 2014.

In essence we have a disinvestment which is leading to a decrease in disposable real income and as a consequence to insolvency.

In other words, we have not just entered into a new recession cycle but in a spin from which unfortunately we do not know if we will manage to get out before colliding into the ground.

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