BUSINESS

Consumers prepare for tight spending over Easter

TAGS: Economy

Greeks are preparing to celebrate their first Easter of the post-bailout era this weekend. Many will be confined to tight budgets, something they got used to in the past decade of the debt crisis which brought the country to the brink of disorderly default.

The debt-ridden economy has returned to growth and exited the last bailout program last August, but Greek households and businesses still have not felt any change in their finances, retailers and consumers told Xinhua on Wednesday.

This year’s typical festive meal will remain frugal, with the average cost for 6-8 persons reaching 93 euros from 92.7 euros in 2018 and 94.4 euros in 2017, according to a survey by the Hellenic Confederation of Commerce and Entrepreneurship (ESEE).

“The Easter holiday period is very important for commerce, because Easter is a major festival for Greeks and because of the Easter bonus paid to employees in the private sector,” ESEE’s president Giorgos Karanikas told Xinhua.

“The cost of the Easter meal this year is estimated to be the same as last year. Although we have seen increases in the prices of fruits and vegetables due to climate conditions, the small demand for meat has kept the total low,” he said.

[Xinhua]

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