ECONOMY

Staikouras: Statistics vindicate gov’t policy

staikouras-statistics-vindicate-gov-t-policy

Finance Minister Christos Staikouras said on Friday that a report released by the Hellenic Statistical Authority (ELSTAT) earlier in the week showing an increase in the available income of Greek households validated the government’s policy of implementing permanent cuts in tax rates and social insurance contributions and the unprecedented support measures during the pandemic crisis.

The report said that Greek households’ available income grew by 7% in the second quarter of 2021, after a 4.5% increase in the first quarter, compared with the same periods last year.

This development happened despite a 15.3% increase in households’ final consumption, the first annual increase since the fourth quarter of 2019.

Staikouras said that private sector deposits grew by around 28 billion euros, of which 50% are household deposits, totaling €173.8 billion.