The new leadership of Athens’ Development and Tourism Promotion Company (EATA), acting under an order by new Mayor Haris Doukas‘, has launched an audit led by certified accountants and legal experts. This decision comes in response to substantial financial losses totaling 3,650,000 euros incurred during the fiscal year of 2023.

A significant portion of these losses, approximately 2,000,000 euros, stems from deficits within the ESTIA Program. This housing initiative, financed by the European Commission’s DG HOME, supports asylum seekers and their families by providing rented accommodations. The remainder of the losses relates to operational expenses and mismanagement of accounting practices under the previous administration.

In the coming months, an extensive management audit will look into the root causes of these financial setbacks and scrutinize any potential liabilities that may emerge. Addressing these challenges, the Municipal Council recently approved a necessary increase in capital to mitigate the impact of these losses.

Since assuming office, the new administration has undertaken measures to stabilize and modernize EATA. These efforts include revising accounting procedures and implementing technical support systems aimed at enhancing operational efficiency.