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GreeceBusinessFinMin Staikouras: Rise in Greek households' available income 'a result of gov't...

FinMin Staikouras: Rise in Greek households’ available income ‘a result of gov’t support policies’

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The rise in Greek households’ income, as shown by the Hellenic Statistical Authority for the third quarter of 2022, covers the greatest part of losses incurred by households due to the steep rise of inflation, Finance Minister Christos Staikouras said on Tuesday.

He added that “at a nine-month level, the rise of available income is 10 billion euros compared to 2019.” He said this development resulted from the government’s applied economic policy which focused on reducing taxes and insurance premiums, increasing the minimum wage, improving unemployment figures, and applying significant support measures for households and businesses. “The support is reflected in the 47-billion-euro increase in deposits of citizens from 2019 to the present,” he said.

Greek households’ available income grew by 3.48 billion euros, or 10.2%, in the third quarter of 2022, totaling 37.69 billion euros, from 34.21 billion the same period in 2021, Hellenic Statistical Authority said on Tuesday. More specifically, final consumption spending grew by 12.7% to 36.7 billion euros, while the saving rate (gross saving/gross available income) fell to 2.6% in the third quarter of 2022 from 4.8% in the same quarter of 2021.
Private investments (gross fixed capital investments) totaled 3.8 billion euros, the external balance of goods and services recorded a surplus of 1.37 bllion euros in the third quarter, with imports rising by 7.84% and exports rising by 8.18%.

SOURCE; ANA-MPA

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