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Government’s growth ambitions meet RRF reality
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Disposable income rises in Q2, saving rate stays negative at -3 pct
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Wages index growth slows to 7.4 pct YoY in Q3
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Import prices contract again in Oct with 2.4 pct drop
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Subdued passenger car sales lead to overall drop of 1.6 pct in Nov
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Electricity propels 6.4 pct YoY jump in Oct industrial production
Data underlines Greece still has big wage gap to bridge
The issue of Greeks’ wages and spending power has become a thorn in the government’s side - aside from some data and research that place Greece at the bottom of EU tables in terms of real wages and purchasing power parity, the current administration has repeatedly pledged a rise of the average wage in Greece to 1,500 by the end of the term, currently standing just above 1,200 euros.
The Greek authorities have realised that the rises in the minimum wage that started in 2019 under the previous SYRIZA government and continued during this administration’s first term only had a narrow effect on overall earnings. The increases only apply...
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