Dis­pos­able in­come of house­holds fell 10.3 per­cent in one year

Kathimerini English - - Focus - SOTIRIS NIKAS

The re­duc­tion ofGreek house­holds’ dis­pos­able in­comes in 2013 com­pared with 2012 amounted to a to­tal of 14 bil­lion euros, the big­gest since the start of the cri­sis ac­cord­ing to data re­leased by the Hel­lenic Sta­tis­ti­cal Au­thor­ity (ELSTAT).

Dis­pos­able cash amounted to 122.2 bil­lion euros last year, from 136.2 bil­lion in 2012 – i.e. a 10.3 per­cent re­duc­tion within just one year.

The loss since the start of the cri­sis is even more stag­ger­ing: In 2009 the dis­pos­able in­come of Greek house­holds had added up to 170.7 bil­lion euros.

In the years that fol­lowed and up to last year, with the ap­pli­ca­tion of aus­ter­ity mea­sures through the re­duc­tion to salaries, pen­sions and ben­e­fits and the in­crease in tax­a­tion, house­holds have lost a to­tal of 48.4 bil­lion eu- ros – i.e. an av­er­age of 12.1 bil­lion euros per year.

On the re­duc­tion recorded last year, the statis­tics of­fice says in its re­port that it was due to the re­duc­tion in work­ers’ pay by 10.7 per­cent year-on-year and the 12.3 per­cent drop in the amount of so­cial ben­e­fits that house­holds re­ceived.

Re­gard­ing con­sump­tion, ELSTAT data showed that it has fol- lowed the course of dis­pos­able in­comes: House­holds’ con­sumer spend­ing de­clined by 4.8 bil­lion euros or 3.6 per­cent last year from 2012, amount­ing to 129.9 bil­lion euros, against 134.7 bil­lion in 2012.

The year with the high­est con­sumer spend­ing by house­holds was 2008, when 164.6 bil­lion euros was spent.

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