ECONOMY

Greeks’ disposable incomes up 4.7% in Q3 of last year

Greeks’ disposable incomes up 4.7% in Q3 of last year

A rise in Greek households’ disposable income combined with a significant reduction of unemployment are helping to ease pressures on family budgets in the form of increasing inflation, Finance Minister Christos Staikouras said on Tuesday.

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 the average European growth rate.

Staikouras said the data, released by the European Central Bank, converge with figures recently released by Hellenic Statistical Authority and the Organization for Economic Cooperation and Development, with the Paris-based OECD announcing that the per capita real income of Greek households recorded the second largest annual growth rate among its member-states.