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Economy

City of Athens Expects Revenues of 1 Bln Euros in 2023

December 19, 2022

ATHENS – Athens’ municipal council approved the capital’s budget for 2023 on Monday.

The plan foresees revenues of over 1 billion euros (from 917.6 in 2022), an increase of investments by 153% compared to 2019 (to 174.93 million euros), and funded projects worth 510 million euros (funded by European and national resources). Nearly 106 million euros are allocated to technical improvements, including roadworks and rain drainage projects, including at the Eleonas neighborhood, as well as biomaterials sorting at source.

Athens Mayor Kostas Bakoyiannis also reiterated an earlier announcement, that the city is reducing cleaning and lighting fees by 5%.

He explained that the increase in revenues foreseen comes from already using digital services, improving automated programs, and putting into operation e-payment programs. “These actions have allowed us to guarantee the operationability of revenue collection for everyone without exception. They led us to ensure (we get) something from the many, not to ask much from the few.”

Revenues are rising at 22.4% and liquidity remains high (45-50 million euros). “These are fully confirmed by the last report of Moody’s on October 20, 2022, which stresses our city’s excellent economic state, its prudent management, and the low debt rate compared to other local governments in Europe,” the mayor said.

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