Electronic Transactions Surge by 10.7% in 2024

Electronic Transactions Surge by 10.7% in 2024

Business

Electronic transactions in 2024 saw a 10.7% increase compared to 2023, rising from €61.1 billion to €67.7 billion. The surge was primarily recorded in the second half of the year, following the completion of POS-cash register interconnection, CE Report quotes Athens-Macedonian

Tax revenues exceeded targets by €2 billion, attributed to the POS integration and the expansion of the myDATA system for businesses. These additional funds were reinvested in tax cuts, income support, and the Public Investment Programme.

Minister of National Economy and Finance Kostis Hatzidakis stated, “The €6.6 billion increase in electronic transactions is the strongest proof that POS-cash register interconnection has played a key role in reducing tax evasion.”

Tags

Related articles

Euronext Targets ATHEX Deal
Euronext has confirmed it is in talks with the board of Hellenic Exchanges-Athens Stock Exchange (ATHEX) about a possible acquisition of up to 100% of ATHEX shares.
One in Four Greeks Hide Savings from Partner
Over a quarter of Greeks have a hidden savings account their partner doesn't know about, according to a nationwide survey by the savings and investment app Plum.
Tahov: No Reason for Food Price Hikes
There are no economic or production reasons behind rising food prices in Bulgaria, Agriculture Minister Georgi Tahov told bTV on Sunday.
Bulgaria Joins Key Transport Corridors
Bulgaria’s Black Sea port of Burgas is set to become a key hub in the developing Three Seas Corridor, Deputy Transport and Communications Minister Dimitar Nedyalkov announced at the Balkan Business Forum in Bansko on Saturday.
Türkiye Highlights Development Road’s Economic Impact
President Recep Tayyip Erdogan said Friday that Türkiye aims to turn its geopolitical position into a regional economic advantage through the Development Road Project.
Tesla Sales Plunge in Europe
Tesla's vehicle sales in Europe dropped sharply by 40.5% year-on-year in May, according to data released Wednesday by the European Automobile Manufacturers' Association (ACEA).
Energy Prices Fall After Ceasefire
Global energy prices fell sharply on Tuesday, retreating below pre-conflict levels after U.S. President Donald Trump announced a ceasefire between Israel and Iran.
Greece Reports Strong Budget Surplus
Greece’s state budget recorded a primary surplus of €5.34 billion on a modified cash basis for January–May 2025, far surpassing the target of €1.06 billion and the €3.20 billion surplus in the same period of 2024, the Finance Ministry announced Wednesday.
Brent Crude Drops Below $70 Amid US-Iran Tensions
Brent crude oil prices fell below $70 a barrel on Monday for the first time since the recent escalation between Israel and Iran.