Finance Minister Makis Keravnos announced updated interest rates for 2025 through decrees issued on Monday.

The public interest rate for overdue payments has been set at 5.5 per cent, while the judicial interest rate has been established at 6 per cent.

Both rates will come into effect on January 1, 2025.

According to the decree on the Determination of the Unified Public Interest Rate for Overdue Payments for 2025, the public interest rate has been increased from 5 per cent in 2024 to 5.5 per cent.

In addition, the corresponding decree for 2024 has now been repealed.

The public interest rate applies to amounts owed to or by the state due to delays or failures in settling any outstanding obligations or debts.

Moreover, the judicial interest rate has been raised to 6 per cent from its previous level of 5.5 per cent in 2024, as outlined in a separate decree issued by the Finance Minister.