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Finance Minister: Public interest rate on arrears at 5.5%, court interest rate at 6%

07:43 - 31 December 2024

Economy Reporter

Finance Minister, Makis Keravnos, has set the public interest rate for arrears at 5.5% and the court interest rate at 6%.

The decrees were issued on 30 December and both interest rates come into effect as of 1 January, 2025.

According to the decree setting the single public interest rate for arrears for 2025, the public default interest rate is set at 5.50%, while at the same time the relevant decree for 2024, which set the public default interest rate at 5%, is repealed.

According to the law, public interest rate on arrears is interest payable by or to the state as a result of a failure or delay in the repayment of any overdue debt or debt owed by or to the state.

At the same time, the Minister issued a decree setting the court interest rate at 6%, up from 5.50% in 2024.

(Source: CNA)

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