Public coffers run dry as taxes go unpaid
The imposition of measures restricting transactions was accompanied on Monday by a total freeze in the payments of citizens’ obligations to the state, while there was also an impact on the payment of pensions and private sector salaries.
The public coffers, social security funds, the private sector, retail sales and tourism are in an unprecedented state, as the restrictions effectively prevent any transactions, while fears of a credit crunch in the coming days have discouraged even those who have cash from making any purchases or settling their obligations, as they don’t know what will come next.
On Monday some major social security funds did not pay the pensions due and certain enterprises informed their employees that their monthly salaries would not be paid, without specifying when that would happen.
Under the circumstances, it is also highly unlikely that the state will be able to pay the salaries and pensions due at the end of next month, as tax payments have stopped and the coffers have run dry. State General Accounting Office sources said that the last hope for the payment of next month’s salaries and pensions had been the payment of value-added tax, but accountants say major firms have ordered them not to submit VAT statements or pay their taxes.
