"Inflation has robbed them of a third of their income since the post-2009 global financial crisis, statistics show. Five years later, Greeks had the second-lowest annual salaries in the European Union after Bulgaria, according to Eurostat."
"GSEE's latest report found that during these five years, Greek living standards rose from 65.5 percent of the EU average to just 68.5 percent, despite the fact that the economy has grown at almost twice the EU rate since the COVID-19 pandemic in 2020."
"When New Democracy was re-elected in 2023, it promised to restore living standards and made good on those promises. Minimum wage was recently restored to 920 euros ($1,080) a month, from the 580 euros ($680) to which it had been slashed amid the post-2009 global financial crisis."
Since the post-2009 global financial crisis, inflation has decreased Greek incomes by a third. The New Democracy party, in power since 2019, aimed for a 4 percent annual economic growth and improved living standards. However, Greece has the second-lowest annual salaries in the EU. Despite a slight increase in living standards, the gap with Bulgaria is concerning. The government has recently restored the minimum wage and average monthly wages, fulfilling promises made during the 2023 election, alongside tax cuts.
Read at www.aljazeera.com
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