Greek FinMin says latest statistical data vindicate government policies

Greek Finance Minister Christos Staikouras on Friday said that a report released by the Hellenic Statistical Authority earlier in the week showing an increase in the available income of Greek households vindicated the government’s policy of implementing permanent cuts in tax rates and social insurance contributions and the unprecedented support measures during the pandemic crisis.

The report said that Greek households’ available income grew by 7.0 pct in the second quarter of 2021, after a 4.5 pct increase in the first quarter, compared with the same periods last year. This development happened despite a 15.3 pct increase in household final consumption, the first annual increase since the fourth quarter of 2019. The Greek FinMin said that private sector deposits grew by around 28 billion euros, of which 50 pct are household deposits, totaling 173.8 billion euros.