Austerity and heavy taxes caused the dramatic reduction of State revenues

1

November 8, 2012 by pavlospapathanasiou

Due to the dramatic economic recession in Greece, state revenues reduced, despite the heavy taxes that the government imposed both on individuals and on houses.

In 2008 revenues were 95 bn euros, while in 2012 and despite the series of new taxes , the revenues fell to 82 bn euros according to George Vamvoukas, Economics Professor in the Athens University of Economics and Business (AUEB). Furthermore Prof. Vamvoukas stressed that Greece’s national debt in 2008 was 330 billion while in 2012  exceeded 600 bn euros. On the other hand, the public debt reached the amount of 380 bn euros in 2012 while four years earlier was 290 billion.

source: spirospero.gr

http://spirospero.gr/index.php/oikonomia/27015-meiothikan-ta-esoda-tou-kratous-para-ta-xaratsia#.UJwgmzndsO4.twitter

One thought on “Austerity and heavy taxes caused the dramatic reduction of State revenues

  1. […] Austerity and heavy taxes caused the dramatic reduction of State revenues. […]

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