Greece private debt reaches €421 billion

Greece's private debt reached €420.9 billion at the end of the second quarter of this year, representing 169% of the country's GDP. According to an analysis by IOBE, conducted in collaboration with Cepal, this figure marks a 5.5% annual increase, equivalent to €22.1 billion in new debt.

The debt is split into two main categories: half consists of obligations to the State and social security funds, while the other half stems from loans. Overdue obligations totaled €238.6 billion, accounting for 56.7% of the total debt, with more than two-thirds of these being owed to the State.

Total loan obligations rose to €254.6 billion, driven largely by increases in business loans. Meanwhile, the percentage of non-performing loans held by banks and management companies decreased to 28.4%, though management companies continue to handle over 90% of all non-performing loans.