Greece ranks 16th in EU in terms of net disposable income for households, ministry says
Greece ranks 16th among European Union member states in terms of household net disposable income, the Economy and Finance Ministry has said.
Commenting on two publications by the Center for Planning and Economic Research (KEPE) on wages, salaries and the purchasing power of Greek citizens, particularly of families with children, the ministry said that the net disposable income in Greece has risen for all types of households.
Specifically, the ministry said that in from 2019 to 2023), the minimum wage and the average wage in Greece rose more than prices: the minimum and average wage rates by 27.7% and 20.2%, respectively, while the consumer price index rose cumulatively by 13.4%.
In addition, during the same five-year period, real per capita income in Greece increased significantly more than the EU average, by 7.7% against the EU’s 3.3%, and nearly triple that of the eurozone (2.3%).
Moreover, the government in the last five years enacted a series of tax reductions and positive interventions for Greek households, within fiscal margins, as in providing supplements for children in families, extending parental leave, expanding school meals, and providing support to low-income families in heating and electricity bills, among other measures, the ministry said.
Citing Eurostat data, the ministry said net wages in terms of disposable income rose between 12.3% and 15.7% from 2019 to 2023, putting Greece 16th in the 27 EU member states, in three of four main reference categories, while in the fourth category Greece ranks 19th.
“It is obvious that Greece has not turned into Switzerland or Sweden. And the above data is not meant to lead to celebrations, or, even more, to underestimate the real difficulties that many of our fellow citizens face.
“What is presented, however, is the true picture, which confirms that significant progress our country has achieved in the last five years, which is primarily an achievement of the Greek people,” the ministry said. [AMNA]
