The “reduction” of the debt of 1 out of 3 euros is the result of his rules. extrajudicial mechanism for those debts that were approved by both creditors and the debtors themselves, according to Ministry of Financewhich show the acceleration of processes in recent months.

The amount of debts repaid to date with the acceptance of the debtor reaches 1.5 billion euros, of which 1.08 billion euros have already been repaid, and another 392 million euros are in the final stage of repayment. According to the forecasts of the ministry, the amount of the new rules will increase from 1.6 to 2 billion euros in the next five months, which, according to the Minister of Finance Christos Staikouras the extrajudicial tool “is the most successful in the last 12 years to address the serious problem of private debt.

In total, cases for which settlement has been proposed amount to 2.7 billion euros, but, as can be seen from the data at the end of January, a significant percentage, reaching 44% for debts to funds or banks, is rejected by the debtors themselves.

To date, approximately 3,320 debtors have repaid debts to the state and financial institutions (funds and banks) totaling 1.08 billion euros, and according to the Ministry of Finance, given that in September last year, the total amount of repaid debts reached 300 million euros, “the progress of the out-of-court settlement of the debt proves that it is now working satisfactorily.”

According to the progress record of the out-of-court mechanism, 47,600 applications had been filed at the end of January, representing a total debt of €26.7 billion. Of these, 7,500 applications worth €2.7 billion have already been completed and another 5,400 applications with €3.6 billion in arrears are at an advanced stage of final submission and approval by creditors. Another 34,600 applications, representing debts of €20.4 billion, are in the first phase of initial filing and data collection. Moreover:

• 73% of debts, ie. 19.6 billion accounted for by individuals.

• Most debt (79%) is held by financial institutions.

The amount of new agreements in the next five months will grow from 1.6 to 2 billion.

• Debts over $1 million represent 65% (17.5 billion) of total debt and account for 10% (4,700) of applications.

• Of the 2.7 billion debt proposed for regulation, 56%, ie. 1.5 billion were taken over by debtors.

• Of the 1.6 billion allocated by the state, 91% have been approved, ie. 1.5 billion

• Of the 1.8 billion estimated by financial institutions, ie. funds, management companies and banks approved 66%, i.е. 1.2 billion

• The average write-off rate for government debt is 22% and for debt to financial institutions is 31.5%.

• 40% of settings, ie 439 million, received a removal rate of more than 30%.

• The average maturity period for debt to the state is 18 years and debt to financial institutions 15 years, with 33% of debt repaid over 20 years.