Public sector enterprises’ payroll costs down 15% in Jan-Sep

Payroll spending by Greece’s 52 public sector enterprises was down 15 pct, or 143.4 million euros, in the January-September period this year, compared with the same period in 2009, with the government expecting to save around 220 million euros for the year, a finance ministry announcement stated on Wednesday.

Total payroll was 812.3 million euros in the nine-month period, down from 955.7 million euros in 2009, reflecting a cost-cutting policy implemented for public sector enterprises.

The finance ministry also said that loss-making public sector enterprises, set for restructuring, reported an 11-pct cut in the payroll of the Athens (green) bus service organisation (EThEL), a 17-pct decline in Trainose (the rail line operator), a 16-pct drop in the Athens-Piraeus electric train line (ISAP), a 16-pct decline in Hellenic Defence Systems, a 15-pct decline in Athens area trolley-bus operator (HLPAP), a 17-pct drop in the greater Athens (blue) bus operator (OASA), a 23-pct decline in Hellenic Railways and a 14-pct decline in Gaiaose, the rail operator’s construction arm.

The Hellenic Foreign Trade Board (HEPO) topped the list of average payroll costs (38,447 euros), followed by ISAP (35,111 euros), DE.PANOM (33,104 euros) and Trainose (31,198 euros).

EOMMEX (15,737 euros), the Greek Festival (formerly Athens festival) (15,805 euros) and Gaiaose (19,272 euros) recorded the lowest payroll costs.

OASA (2.83 billion euros), EThEL (1.83 billion), Hellenic Defence Systems (1.06 billion), Trainose (683.78 million), ΙSAP (643.12 million) and HLPAP (367.13 million) recorded the highest liabilities for the nine-month period.