An impressive 81% increase in successful debt settlements through the Judicial Mechanism was recorded by the Ministry of National Economy and Finance in 2024, compared to 2023. In total, 16,903 settlements were made, corresponding to debts of €5.13 billion, compared to 9,337 settlements and €3.54 billion in the previous year. Since the launch of the mechanism, 28,945 arrangements for debts totalling 9.49 billion euros have been completed.

More than 2,500 vulnerable families benefited from the arrangements, while 140 debtors avoided auctions by taking advantage of the advance payment option. This increase is mainly due to the institutional changes implemented in 2023, such as the reduction of the interest rate to 3% for the first three years, the mandatory acceptance of arrangements for vulnerable debtors by credit institutions and the “haircut” of debts up to 30%. These improvements made the mechanism more accessible and efficient for citizens.

Attica and Central Macedonia accounted for 46.5% of total debts, with 12.9 billion euros and 5.6 billion euros respectively. Most applications were for debts of 50,000 to 200,000 euros, while large debts of more than 1 million euros accounted for 57% of the total amount settled.

In 2024, the non-performing loan rate reached an all-time low of 4.6%, the lowest level since the pre-crisis period. In addition, loan management companies completed 401.6 million of arrangements for 6,567 borrowers in November 2024, with a focus on mortgages.

The myEgdixlive platform played a key role in supporting citizens, serving over 47,000 people in 2024 through online and telephone appointments. However, 24% of applications were rejected, mainly due to insufficient financial capacity of debtors.

The Minister of National Economy and Finance, Kostis Hatzidakis, said: “The increase in settlements confirms the significant improvement of the institution after the changes we implemented. The government will continue its efforts to reduce private debt and support our vulnerable citizens.” The Secretary General of the Financial Sector, Theoni Alambasi, stressed that this progress reflects the Secretariat’s systematic work and dedication to improving the daily lives of citizens.