The tax collectors’ 48-hour strike in the last two days of the month is expected to affect the progress of revenue in December negatively, forcing the ministry to utilize accounting tricks to hold off the derailment of this year's deficit, perhaps by more than 9% of GDP.
During the meetings held between finmin Evangelos Venizelos and official agents, it was discovered that the only salvation for this year's proceeds is to collect the already assured income, property and car taxes which will be entered as revenue in December, although they will be collected within the first two months of 2012.
According to the revised annual target, total revenue should have been configured at 45.642 billion up until November, while the proceeds amounted to 43.860 billion euros. The deficit reached 20.490 billion, marking a 5% increase from last year’s corresponding period. In accordance with the revised target, the deficit should close annually at 21.712 billion with an increase of 1.2% from last year.
As admitted by officials of the ministry, it is difficult to close the hole of more than 3 billion, bringing closer the possibility of additional measures, for the implementation of which the government has made a firm commitment to the Troika, should the situation require such a move.
At the same time deputy finmin Philippos Sachinidis gave strong written recommendations on the management of overdue debts, threatening with sanctions those bodies that sweep the overdue debts "under the carpet".