Salary is not enough for most
The monthly income is sufficient for just 19 days for around 61% of households in Greece, as price hikes in basic goods and services eat away at incomes for the third year in a row, while inflation has been at much larger levels than any salary increase in recent times.
How do households manage the other 11-12 days? Either they draw from their savings, as shown by the data of the Bank of Greece, or they cut back on spending on entertainment, travel, clothes and shoes, or they stop being consistent with their obligations to the state and banks, or, even worse, postpone visits to the doctor.
According to the annual survey of the Small Business Institute of the Hellenic Confederation of Professionals, Craftsmen, and Merchants (IME GSEVEE) on household income and living expenses, 60.7% of households stated that their monthly income is sufficient on average for 19 days. This rate is the highest that has been recorded in an income survey by IME GSEVEE since 2018, the year in which the index was created.
Employees are in a more unfavorable position, as in households whose main source of income is one salary or more, the corresponding percentage is 65.1%.
