Greece will meet targets says Revenue Sec. Gen.

A tax-revenue hole of 200 million euros ($275 million) to 300 million euros since the beginning of 2014 stems mainly from temporary disruptions caused by administrative overhauls and changes in payment deadlines, said  Charis Theoharis .

“Macroeconomic data seem to be on our side,” Theoharis, said in a Bloomberg News interview. “Greece met its budget-revenue targets in 2013 for the first time after some 15 years and I see no reason to doubt we will make it again this year.”

Tax revenue for the first two months of 2014 totaled 6.88 billion euros, which was 454 million euros, or 6.2 percent, below target, according to government figures released in March.

Greece’s GDP contracted 2.3 percent in the fourth quarter of 2013 compared with the same 2012 period, ELSTAT, the Greek statistics agency said on 11 March.

The Greek government and the EU predict GDP will grow 0.6 percent this year after shrinking 3.9 percent last year.

“Available indicators show that the rebound from recession was steeper in the final quarter of 2013 than first estimates suggested,” Theoharis said. “This is one more reason to be optimistic on revenues.”

The Greek government has added claims of unpaid taxes, fines and other liabilities to the tune of 2.3 billion euros so far this year, bringing total unpaid arrears owed to the Greek state to about 63 billion euros, Theoharis said.

Of that total, 23.7 billion euros are unpaid taxes and fines, most of which will never be recovered because the companies that owe the money have gone out of business, he said.

“Our revenue targets this year take arrears into account,” he said. “We have been realistic.”