by Kostas Zaligkas
Athens, June 2 (Xinhua)-- Greeks' debt to social insurance funds increased by 584 million euros (681 million U.S. dollars) during the first quarter of 2018 compared to the last quarter of 2017, according to a Greek National Center for the Collection of Social Security Arrears (KEAO) announcement.
According to KEAO's first quarterly progress report for this year at the end of March 2018, the total amount of debt the center manages was 31.9 billion euros.
This number changes daily though, as new debtors (with all their past debts) are included in the center's database, experts like Christos Krigas, accountant and tax consultant, told Xinhua on Saturday.
In the first quarter of 2018 KEAO recorded 43,577 new debtors.
After eight years of debt crisis, many Greeks find it more difficult to meet their financial obligations.
KEAO's report showed that 839,891 debtors (the 69 percent of debtors) have a debt of up to 15,000 euros each, while an additional 91,368 debtors have a debt of 50,000-100,000 euros.
Moreover, 1,733 debtors have a debt of over one million euros each which is about 21.7 percent of the total dent.
"The 31.9 billion euro burden is old debt and it is extremely hard to collect," Krigas said.
In his opinion there are three necessary measures that the state must take in order to collect a part of this debt.
"First of all, the calculating method of the insurance contributions must change and I believe it will change soon. Second, the ceiling must be diminished to 40,000 euros from 70,000 euros that is today. It's extremely high and most debtors can't meet their obligations," he explained.
"Third, the calculating method of the insurance contributions must depend on last year's income and not from the years before. Until now the contributions are based on the income of 2015 and 2016," he added. ( 1 euro= 1.17 U.S. dollars)
