First, in the last five years the minimum and average wages in Greece have increased more than prices. Specifically, between 2019 and 2023 the Consumer Price Index has cumulatively increased by 13.4%. In the same period, based on data from the ERGANI information system, the average salary increased by 20.2%, while the minimum wage has increased from 2019 to date by 27.7%.
Secondly, in the last five years the real per capita income has increased in Greece to a degree significantly higher than the European average. According to Eurostat data, between 2019 and 2023 real per capita income in Greece has increased by 7.7%, more than twice the European Union average (3.3%) and almost three times that of the Eurozone (2.3%). .
At the same time, over the past five years the government has proceeded with a series of tax reductions as well as positive interventions for Greek households, always within the framework of fiscal responsibility. Examples include the establishment and significant strengthening of the birth allowance, the increase of the tax-free allowance for families with children by 1,000 euros for each child, the extension of maternity leave, paternity leave, the increase of the income limits of the heating allowance, the introduction of a social electricity tariff large children, the reform of the public sector payroll with an increase in the family allowance, the increase in vouchers for nurseries, the expansion of the school meals program, etc.
As a result of the above, according to the Ministry of Finance, the net disposable income in Greece has increased for all types of households. Specifically, again based on Eurostat data, from 2019 to 2023 annual net earnings in purchasing power units have increased between 12.3% and 15.7%, depending on the type/composition of the household. In terms of purchasing power, this salary in 2023 ranks 16th in the European Union of 27 for three of the four main reference categories, while in the fourth it ranks 19th.
Particularly with regard to workers who are paid the minimum wage, Greece is in the middle of the distribution, since out of a total of 22 member states with a legislated minimum wage, in nominal terms (i.e. in euros) the country is in 11th place, while in terms of purchasing power, Greece is in 12th place. Consequently, the claim that the standard of living in Greece is second to last in the European Union is far from reality. After all, this is also confirmed by Eurostat data regarding actual individual consumption.
It is clear that Greece has not become either Switzerland or Sweden. And the above is not mentioned to celebrate or, much more, to underestimate the real difficulties faced by many of our fellow citizens. However, the real picture is quoted, which confirms the significant progress that our country has achieved in the last five years, and which is primarily the achievement of the Greek citizens.
We continue on the same path of progress, reforms and convergence with the European average, which is the only one that has been proven to yield positive results in terms of terms.”
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