Athens Chamber of Crafts and Industries welcomes new 120-installment debt plan

The Athens Chamber of Crafts and Industries (BEA) has expressed satisfaction following the government's decision to expand debt restructuring options for small and very small businesses. Following announcements by Prime Minister Kyriakos Mitsotakis, the repayment period for debts has been extended from 72 to 120 installments.

Additionally, the new regulation will now include debts incurred during 2024. The BEA had been advocating for these changes for over two years, arguing that the previous 72-installment limit imposed a monthly burden too high for businesses to sustain. The Chamber emphasized that small enterprises have faced consecutive crises, including economic, health, and energy shocks, which have severely limited liquidity and increased operational costs.

Konstantinos Damigos, President of the BEA, stated that the decision serves as a validation of the Chamber's requests, providing small businesses with a more viable second chance to meet their obligations without risking new cycles of overdue debt.