Income in Greece lasts less than a month in 2021

Income in Greece lasts less than a month in 2021

The income of one in two households in Greece lasted until the 19th of each month on average in 2021, according to the results of a survey.

The survey was conducted late last year by the Small Enterprises’ Institute (IME) of the Hellenic Confederation of Professionals, Craftsmen and Merchants (GSEVEE).

One in two respondents to the survey expected their income to further shrink in 2022 due to rising inflation linked to skyrocketing energy costs, and to struggle to meet their obligations to the tax office, insurance funds and lenders.

“There was an increase in expenses to cover house bills for 65% of households, while more than 50% had to spend more on food, heating and transportation,” GSEVEE President George Kavvathas told Xinhua on Thursday.

The situation has deteriorated since the start of the Russia-Ukraine crisis, he said.

Recent figures from the Hellenic Statistical Authority (ELSTAT) showed that Greece’s annual inflation rate increased to 7.2% in February, hitting a 26-year high.

The sharp rise was attributed mainly to a 78.5% hike in the price of natural gas, 71.4% for electricity, 41.5% for heating oil and 23.2% for fuel and lubricants.

In an opinion poll presented on Wednesday on Mega TV, about 56% of respondents said their financial situation had worsened from a year ago.

The government has announced a series of measures to help households and businesses cope with the crisis, but according to Kavvathas and other professionals and citizens, more is needed.


Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.