BoG Study: From 2008-2016 Greek Households Saw a 37.5 % Decline in Wealth

Thursday, January 26th, 2017
Last Update: 15:09

On Wednesday a study published in the Bank of Greece’s Economic Bulletin revealed that Greeks have seen their salaries shrink considerably in the period between 2010 and 2016.

The study showed that in Greece annual households disposable income decreased by 32.8 percent or 57 billion euros in that time period. Specifically, Greek households saw a decline of 31.5 percent to their annual salaries, from 86.8 billion euros to 59.4 billion.

Other factors that were revealed in the survey showed that pensioners were also impacted by the economic crisis and austerities as their retirement funds have been decreased drastically during the same time period of 2010-2016. In all pensioners saw their social benefits decrease from 43.5 billion to 36.1 billion, or 17.2 percent.

The survey showed that from the onset of the crisis in 2008 until last year in 2016 Greek households lost some 37.5 percent of their wealth.

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