Thessaloniki Chamber of Commerce seeks 120-installment debt plan for SMEs

The Thessaloniki Chamber of Commerce (EST) has submitted a formal request to the Greek Minister of National Economy and Finance, Kyriakos Pierrakakis, seeking to expand existing debt restructuring options for small and medium-sized enterprises (SMEs).

The Chamber is proposing an extension of the current 72-installment plan to 120 installments to alleviate financial pressure on SMEs. Additionally, the proposal calls for the application of a fixed arrangement for up to 48 installments and the ability for businesses that previously lost their eligibility for debt programs to be reintegrated into new arrangements.

According to the Chamber, SMEs are currently struggling to manage a combination of old debts, current tax and insurance obligations, and rising operational costs. The EST emphasized in its letter that the business community is not seeking the cancellation of debts, but rather ‘a realistic framework for their repayment’ to ensure business viability and smooth operations.