Municipality of Athens records surplus for eight years in a row

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Municipality of Athens records surplus for eight years in a rowThe city's credit rating has been described as "excellent" by Moody's credit agency. Only 15 cities out of nearly 250 globally have merited this credit rating by the agency

The City of Athens shows a surplus for the eighth consecutive year, Athens mayor Giorgos Broulias said on Monday at a city council meeting that approved the results for fiscal 2018, according to ANA.

Athens municipality had a surplus of 22.3 million euros, Broulias noted, while deputy mayor responsible for finances Eva Kondostathatou said that Athens' obligations fell from 289 million euros in 2010 to 110 million euros. Specifically, bank loans fell from 219.18 million to 97.69 million, while the city's short-term needs totaled 180 million euros and its corresponding obligations 30 million euros.

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Photo Source: Wikimedia Commons License: CC-BY-SA Copyright: Michael Rivera

 

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