The rapid growth of the Greek economy, on the occasion of the increase of the country’s minimum wage to 830 euros, from 780 euros, is highlighted by a Bloomberg report.
After the announcement by the Prime Minister of Greece, Kyriakos Mitsotakis, Bloomberg reported that the country’s economy has made a remarkable recovery since 2010, when the Greek debt crisis began.
It is noted that the growth of the Greek economy exceeded the performance of European counterpart countries in 2023 and the rating agencies returned the country to the investment grade.
According to Bloomberg, despite a strong recovery, Greeks are struggling with low wages, high consumer prices, increased energy costs and a persistent housing crisis.
“Greece belongs to a group of European countries with a national minimum wage equal to or less than 1,000 euros per month, according to Eurostat. These countries include Bulgaria, Cyprus, Poland and Romania.”
“The eastern Mediterranean country is also among the European Union members with the lowest average annual minimum wage growth rates over the past decade, according to Eurostat.”
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