Greece’s Private Debt Hits €407.6 Billion, Report Warns

Greece’s backstage indebtedness roseate to €407.6 cardinal successful the 3rd 4th of 2025, reaching 164% of GDP, arsenic overdue taxation and societal information liabilities. Credit: Greek Reporter

Greece’s backstage indebtedness to banks, taxation authorities, and societal information funds continued rising successful the 3rd 4th of 2025, with a caller study informing that the inclination remains a large vulnerability for the economy.

The inaugural report, titled “Private Debt successful the Greek Economy,” was published by the Foundation for Economic & Industrial Research successful collaboration with CEPAL Hellas, a Greek fiscal services company. In the report, backstage indebtedness is referred to arsenic a slow-burning menace nether the foundations of the Greek economy.

According to the report, full backstage indebtedness kept expanding owed to recognition enlargement and the continued buildup of obligations to the nationalist sector, portion non-performing loans crossed the system remained high.

Greece’s backstage indebtedness climbed to 164% of GDP

Based connected third-quarter 2025 data, the full indebtedness load carried by households and businesses successful Greece amounted to €407.6 cardinal ($467 billion), equivalent to 164% of GDP. That marks a emergence from €392.8 cardinal ($450 billion) successful 2024.

The summation was driven by respective factors. Bank lending expanded by €6.8 cardinal ($7.7 billion), loans held by servicers roseate by €4.5 cardinal ($5 billion), and caller obligations to taxation authorities and societal information funds added different €3.6 cardinal ($4.1 billion). The figures amusement that Greece’s backstage debt occupation is not lone increasing successful standard but besides deepening crossed assorted segments of the economy.

Overdue liabilities stay the biggest concern

The report’s astir troubling uncovering is the standard of indebtedness that is already profoundly overdue. Of the full €407.6 cardinal ($467 billion), €236.5 cardinal ($271 billion), oregon 58%, falls into that category.

The authorities remains the largest creditor. Nearly 70% of overdue debts interest liabilities to the Independent Authority for Public Revenue, known arsenic AADE, and National Social Security Entity (EFKA). Tax indebtedness remains peculiarly precocious astatine €111.9 cardinal ($128 billion), with ineligible entities accounting for 62% of the total.

Old societal information indebtedness inactive weighs heavily

A ample stock of societal information arrears dates backmost galore years. According to the report, 63.7% of full societal information debt, oregon astir €32.3 cardinal ($37 billion), relates to obligations created before, and successful immoderate cases arsenic acold backmost as, 2010.

That suggests a important portion of Greece’s backstage indebtedness load is profoundly rooted and has remained unresolved for much than a decade.