Greece is placing into full operation a new state-run system for evaluating the creditworthiness of individuals and businesses, allowing public authorities to calculate financial reliability using tax, insurance and asset data.
Under the new framework, a creditworthiness score will be issued electronically through the government portal gov.gr within 24 hours of an application. The evaluation will remain valid for three months and may be used by public authorities and, with the explicit consent of the individual or business concerned, by private entities that have contracted with the state.
The operating framework for the System for the Evaluation of Solvency and Credit Capacity is defined by a joint ministerial decision signed by Finance Minister Kyriakos Pierrakakis and Digital Governance Minister Dimitris Papastergiou. The decision sets out technical specifications provided for under Law 4972/2022.
The platform is described as the first comprehensive state credit assessment system, bringing together information from multiple public databases. Using artificial intelligence and machine-learning algorithms, it will calculate the likelihood that a person or business will meet financial obligations owed to the state.
