EFKA revenues rate in decline

The revenues of the new Single Social Security Entity (EFKA) look likely to crumble when the painful measures agreed by the government and the country's creditors are passed.

The indirect increase in social security contributions for a large section of Greece's 1.4 million freelancers, self-employed and farmers is set to further hamper any efforts hundreds of thousands of professionals make to pay their dues even if they have expired debts.

Friday is the deadline for the payment of March contributions, which will to a great extent determine the future of the newly formed fund, as up to last week the course of revenues was far from satisfactory.

According to the Group for Social and Labor Rights, the collection rate for the contributions of non-salary workers dropped by almost 10 percentage points within a month earlier this year. In January 894,298 workers (or 63...