Half of fam­i­lies live on pen­sions

Less than 40 per­cent of house­holds rely on in­come from salaries, not even 10 pct on busi­ness rev­enues

Kathimerini English - - Focus - BY DIMITRA MANIFAVA

Greek so­ci­ety is evolv­ing into a sum of house­holds sur­viv­ing on pen­sions while its most dy­namic sec­tion, young peo­ple aged be­tween 18 and 35, are aban­don­ing it or con­sid­er­ing aban­don­ing it to seek a bet­ter life abroad, a sur­vey by the Small En­ter­prises In­sti­tute of the Hel­lenic Con­fed­er­a­tion of Pro­fes­sion­als, Crafts­men and Mer­chants (IME GSEVEE) has con­cluded.

The re­port pub­lished yes­ter­day sug­gests that the long-term fi­nan­cial cri­sis, whose main vic­tims are the mid­dle class, is not only lead­ing to a fur­ther de­cline in in­comes and the broad­en­ing of in­equal­i­ties, but also openly threat­en­ing so­cial co­he­sion. The so-called ther­apy, with its con­stantly in­creas­ing di­rect and in­di­rect taxes, may lead to pri­mary bud­get sur­pluses but this is not re­turned to tax­pay­ers in the form of pub­lic ser­vices, as at the same time pub­lic spend­ing on health and ed­u­ca­tion is also be­ing re­duced.

The sur­vey, con­ducted be­tween Novem­ber 14 and 26, used a sam­ple of 1,000 house­holds across Greece. It found that more than three-quar­ters of house­holds (75.3 per­cent) had en­dured sig­nif­i­cant de­clines in their in­come in 2016.

Cru­cially, 37.1 per­cent of house­holds said that they live on less than 10,000 eu­ros per year, while 49.2 per­cent said that their main source of in­come is pen­sions. This was ac­tu­ally higher in De­cem­ber 2014 (at 52 per­cent), and the small de­cline is at­trib­uted to the cuts in pen­sions.

Salaries are the main source of rev­enues for 37.9 per­cent of house­holds, up from 37.3 per­cent in the 2015 sur­vey, while 9 per­cent said that they mainly rely on in­comes from busi­nesses.

Al­most one in ev­ery three house­holds has an un­em­ployed mem­ber, 1.0748 which amounts to 1.1 mil­lion house­holds, while the long-term un­em­ployed amount to 73.3 per­cent of all job­less. Fi­nan­cial prob­lems are not lim­ited to the un­em­ployed though, as 22.4 per­cent of house­holds also in­clude an em­ployee who earns less than the min­i­mum monthly salary of 586 eu­ros gross. No won­der 9.7 per­cent of re­spon­dents said at least one mem­ber of their fam­ily has left the coun­try.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.