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Monthly income suffices for just 19 days for many households

The income of one in two households in Greece lasted until the 19th of each month on average in 2021, according to the results of a survey.

The survey was conducted late last year by the Small Enterprises’ Institute (IME) of the Hellenic Confederation of Professionals, Craftsmen and Merchants (GSEVEE).

One in two respondents to the survey expected their income to further shrink in 2022 due to rising inflation linked to skyrocketing energy costs, and to struggle to meet their obligations to the tax office, insurance funds and lenders.

“There was an increase in expenses to cover house bills for 65% of households, while more than 50% had to spend more on food, heating and transportation,” GSEVEE President George Kavvathas told Xinhua on Thursday.

The situation has deteriorated since the start of the Russia-Ukraine crisis, he said.

Recent figures from the Hellenic Statistical Authority (ELSTAT) showed that Greece’s annual inflation rate increased to 7.2% in February, hitting a 26-year high.

The sharp rise was attributed mainly to a 78.5% hike in the price of natural gas, 71.4% for electricity, 41.5% for heating oil and 23.2% for fuel and lubricants.

In an opinion poll presented on Wednesday on Mega TV, about 56% of respondents said their financial situation had worsened from a year ago.

The government has announced a series of measures to help households and businesses cope with the crisis, but according to Kavvathas and other professionals and citizens, more is needed. [Xinhua]


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