Α rise in Greek households’ available income combined with a significant reduction of unemployment are helping to ease pressures on family budgets by an increasing inflation, Finance Minister Christos Staikouras said.
He was commenting on news that Greek households’ real available income grew 4.7% in the third quarter of 2021 compared with the same period in 2020, the second highest growth rate in the Eurozone and six times more than the European average growth rate.
Staikouras said these data, released by the European Central Bank, converge with data recently released by Hellenic Statistical Authority and OECD, with the Paris-based organization announcing that the per capita real income of Greek households recorded the second largest annual growth rate among its member-states.
The European Central Bank said that Greece recorded the largest percentage decline in the unemployment rate in the last four years, among Eurozone countries – and it was no longer the country with the highest unemployment rate in Europe.
These positive developments confirmed that the government’s economic policy, with permanent reduction of taxes and social insurance contributions and a strong protection net for citizens, has contributed both in boosting available income and reducing unemployment, the FinMin said.