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Finance Ministry's defence of economic record highlights area of policy weakness
EconomyMacroeconomythe past few days. It uses wages per hour based on unit labour costs and purchasing power parities where..., only above Bulgaria. For instance, in the index of GDP per capita, also in purchasing power... of the long economic downturn and the recent cost-of-living crisis, which has eaten away another large
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Newsletter 434 - 27/09/2024
struggling the most with the cost-of-living crisis are starting to turn their backs on ND and the other... wage effective from April 1 is 830 euros gross per month, paid out on a 14-month basis leading... in 2016. However, BoG also finds that wages in income brackets above 1,200 per month have barely moved
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Newsletter 450 - 7/02/2025
this at all cost.” His comments were seen as criticism of Mitsotakis’s handling of the Tempe affair... a combined drop of roughly 285,000 for those earning below 800 euros per month. Based on the new... in the 900 to 1,000 euros per month. The data also highlights the challenge for Greek households as although
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Lost decades for Greek incomes tell different story to recovery narrative
EconomyMacroeconomyindex of per capita real disposable household income. Italy and Greece are the only countries where per capita income has not grown over the past 20 years. Between 2004 and 2024, Greece ranks... and then facing the rising cost of living since 2022, Greeks have endured two decades without improvements
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For Greek families, electricity goes from given to must for survival
Societyand businesses per month. In April this year, the company announced a new payment plan for debtors... to be allowed to cover the cost of reconnecting homes. The government, clearly seeing that it has... in the background, which has to do with the cost of these commodities. Eurostat figures published in May
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UnLuCky for some: Another painful lesson from the euro crisis
Agoraat the start of the crisis. The term Unit Labour Cost became sacred. The sure way to achieve the desired effect... is to secure the relative price adjustments by reducing production cost, including wages... was a non-starter since producing more output per resource became impossible when more output was lost
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Increased revenues push Greek budget primary surplus up to 2.28 bln at end of July
EconomyMacroeconomyperiod. This implies that the tax debt is increasing on average by 1.04 billion per month in 2014. On the cost front, primary expenditure resumed a downward trend dropping by 3.2 percent in July, after..., outperforming target by 880 million. Cost containment in July mainly reflects reduced grants to social
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GSEE report stresses risks on employment and the pension system, outlines burden on wages
Societylabor cost by 16 percent has been converted only by one fifth in increased price competitiveness... to the cut in the unit labor cost, according to GSEE. The purchasing power of the average wages is expected... taxation to the calculation, this results to a nosedive of 30 percent per employee and 44 percent
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OECD report paints grim picture for Greece's labour market
EconomyMacroeconomyis clearly depicted in the nominal unit labour cost, defined as total compensation of employees divided... countries, only Spain and Ireland posted a fall in nominal labour cost in 2013, yet at a much slower... revealed that the average annual working hours per employed person remained stable in Greece over
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Greek primary budget surplus to August narrows to 1.95 bln on lower revenues
Economyperiod to 15.08 billion, yet in line with target. On the cost front, primary expenditure slightly rose..., outperforming target by 1.2 billion. The year to date cost containment primarily reflects a decrease... billion per month. In the 8-month period, only the July figure was above this level. The payment of ENFIA
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