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set at 5.50%, while at the same time the relevant decree for 2024, which set the public default interest rate at 5%, is repealed.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)
