Funds: Recover revenue from out-of-settlement receipts

By Dimitris Katsaganis

On the … uphill, the revenues of the Funds are taken out of regulation again, with the consequence that the revenues from overdue contributions as a whole are now significantly increasing.

According to his secure information Capital.gr e-EFKA revenues outside regulations, ie from payments “against debt” and foreclosures, between the third and fourth quarter of 2021 increased dramatically by 42%, reaching 103 million euros, representing 34% of its total receipts Insurance Debt Collection Center (KEAO).

The total revenues of KEAO (ie not only outside regulations but also within regulations) in the fourth quarter reached 302 million euros, breaking the “barrier” of 300 million euros, under which they had fallen after the outbreak of the pandemic, in March 2020.

Now, the “special weight” of extra-regulatory revenues is at the threshold of the level it was at before the pandemic broke out.

Specifically, in the fourth quarter of 2019, non-regulated revenues had risen to 37% and in the first quarter of 2020 to 39% to begin then the … slump, which was much larger than that of regulatory revenues, leading the “race” of the big drop in revenues of KEAO as a whole.For this reason it is true that in the first quarter of 2021 non-regulated revenues reached only 35 million euros or 16% of the total.

More specifically, non-regulated revenues from the 170 million euros that were in the second quarter of 2019, fell to 35 million euros in the first quarter of 2021. That is, they fell by almost 80%. The reason for this was the “freezing” of the notifications of KEAO to the debtors after March 2020. This stopped essentially towards the end of the summer – beginning of Autumn 2021.

Revenue from regulation, although falling, was not as great, despite the government’s continued extensions due to the pandemic. Specifically, the decrease between the fourth quarter of 2019 – the second quarter of 2020 (when the lowest level of revenue within regulations was recorded) was of the order of 123 million euros or 43%.

Then, ie from the third quarter of 2020 onwards, there was a recovery of revenues from regulations, which, however, was interrupted from the first quarter of 2021, without returning to not only the pre-covid 19 level but also the level of 2020. Thus in the fourth quarter of 2021, according to his information Capital.gr, revenue from regulation amounted to 199 million euros, which is the highest level on a quarterly basis for 2021 as previously revenue amounted to 179 million euros, 173 million and 187 million euros, but is far from average quarterly level of 2020 (€ 203 million) and even higher than the fourth quarter of 2020 (€ 286 million).

In other words they have caught almost 70% of the pre-covid 19 level. Unregulated revenue has now reached 60% of the pre-covid 19 level.