BUSINESS

Over one in three at risk of poverty in Greece

TAGS: Economy

Over a third of the country’s population – i.e. 34.8 percent or 3.7 million people – are considered at risk of poverty or social exclusion according to the 2017 survey on households’ incomes and living conditions by the Hellenic Statistical Authority (ELSTAT).

The figure was down slightly compared with the previous year as in 2016 35.6 percent of the population, or 3.79 million people, were seen at risk of poverty or social exclusion.

Data showed that the threat was greater among people of working age (from 18 to 64 years) – at 38.6 percent. Notably the risk was far greater among foreigners in that age group in Greece, affecting 62.9 percent, against 36.5 percent of Greeks aged 18-64.

The poverty threshold was calculated to stand at the annual income of 4,560 euros per person and at 9,576 euros per household with two adults and two children under the age of 14. Households at risk of poverty or social exclusion numbered 789,585, out of a total of 4,162,442 households in Greece.

Without social benefits, 50.8 percent of the country’s population would be deemed at risk of poverty, which indicates the impact that pensions and social handouts – such as the allowance for low pension recipients (EKAS) and the unemployment benefit – have on people’s lives.

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