10.6% reduction in the Greek household income
10.6% reduction in the Greek household income
Greek households are consistently becoming poorer since in the third quarter of last year their incomes decreased by 10.6% compared to the same quarter of 2011...
UPD:
Greek households are consistently becoming poorer since in the third quarter of last year their incomes decreased by 10.6% compared to the same quarter of 2011, from 37.2 billion to 33.2 billion euros.
The ELSTAT figures reveal that the successive reductions in salaries and consecutive hikes in incomes and property have forced households to live on what they have.
In comparison with the third quarter of 2011, these figures record:
- a reduction of employees' salaries by 11.3%
- a reduction of social benefits and allowances received by households by 10.2%
- an increase in taxes on income and property by 17.7%
On the other hand, state revenues from taxes on income and wealth increased (23.9% of the total revenues from 21.2% in the third quarter of 2011 and 18.3% in the third quarter of 2010).
Furthermore, employees’ wages decreased to 20.7% of the total spending from 24% in the third quarter of 2011, and social benefits to 35.9% of the total spending from 43.5% in the third quarter 2011.
As a result, the available household savings declined by 8.1% and their final consumption expenditure by 6.1% compared with the third quarter of 2011.
UPD:
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