1.5 Billion Euro Sell-Off Revenue Target
- Written by Maria Athens
This year's privatization revenues' set target has declined to 1.5 billion euros, from an original 2.8 billion euros.
This was the result of recent agreements by the Greek government and its creditors. The original target placed on Athens was set at 3.56 billion euros, however it was later viewed as unrealistic, as the nation's sell-off TAIPED fund hadn't generated over 2.6 billion euros.
The European Commission's fourth appraisal of the state's second adjustment program decreased the target to 1.5 billion euros and 2.2 billion euros, for 2014 and 2015 respectively. Total privatization earnings are predicted to amount to 22.6 billion euros by 2020's end. The EC is still discussing the possibility of further alterations. Modifications will be dependent on if there is an increase in investor's interest regarding higher revisions, or more challenges in sell-off mechanisms causing additional downturns.
