Eurostat household savings figures from 2022 show that only citizens of Poland and Greece spent more than they saved and posted negative savings rates of -0.8pct and -4.0pct respectively, against an average EU savings rate of 12.7pct.
The highest savings rates, which is defined as gross household savings divided by gross disposable income, in the EU were recorded in Germany (19.9pct), the Netherlands (19.4pct) and Luxembourg (18.1pct).
Twelve members recorded savings rates below 10pct in 2022, but only Poland and Greece were in ‘the red’ with citizens spending more than their gross income. This means that households dip into their savings or are forced to borrow to finance expenditures, explained Eurostat.
For the first time since 2013, real gross household adjusted disposable income per EU inhabitant decreased 0.8pct in 2022. This in notable because it is the first time since the global financial and economic crisis that rates decreased.
Eurostat defines real gross household adjusted disposable income as the total amount of money households have after subtracting income taxes and pension contributions and goods and services received free or charge from the government and non-profits that serve households (education and health services).
Χαρές και πανηγύρια για Σκρέκα, ο σκληρός αλλά όχι άκαρδος Χατζηδάκης και το μυστήριο Σκυλακάκη με τα Carbon Credits
Foreign Universities in Greece Eye Athens and Ellinikon for Private Institutions’ Campuses
At the same time, reliable sources reveal that top universities, including MIT, Yale, and Harvard, visited the Ellinikon mega-project site where Lamda Development showcased its redevelopment plans.
Is a NATO-Russia War Inevitable?
Responding to reporters on Tuesday, Kremlin spokesman Dmitry Peskov said that if EU NATO members sent troops to Ukraine “we would need to talk not about the probability, but about the inevitability (of a direct conflict)."
EU Olive Oil Price 50% Up – Greece 2nd Highest Increase in EU
Greece witnessed the second-highest price hike (+67%) compared to 2023, with Portugal taking the top spot (+69%) and Spain rounding off the top three most expensive countries in the EU
Enterprise Greece: Over 1,000 B2B Meetings in India
The Greek business envoy aimed to promote exports to one of the fastest-growing economies in the world, promote investment and export opportunities, and of course, deepen the cooperation between the two business communities
Golden Visa: Greek Market Reacts to New Thresholds
The primary objective is to raise the investment threshold for obtaining the Golden Visa, to put a brake on the frenzied pace of demand recorded in the expensive areas of the two major urban centers (Athens and Thessaloniki)
Study: 7 Out of 10 Greek Consumers Readily Use Cards, ‘Digital Wallets’
Making card payments seems to be particularly widespread and has become a systematic practice in Greek consumers' everyday life
Greece to Revamp Former Royal Tatoi Estate into Culture and Tourism Hub
Greece is ready to redevelop the former royal estate at Tatoi near Athens into a mixed-use culture and tourism hub
Greek PM Mitsotakis Receives Armenian Counterpart Pashinyan in Athens
“A ministerial meeting between the foreign ministers of Armenia and Azerbaijan will be held in the near future, and I hope we will make progress," the Armenian leader said
Greek DM Dendias in Helsiniki; Athens Eyes ‘Finnish Model’ for Conscription
Hellenic Navy frigate 'Hydra' sails for Red Sea protection mission
Greek Market Impacted by Houthi Red Sea Attacks, Warns SEV
Some pundits estimate the cost of transporting a container from Asia to Piraeus had almost tripled, from €2,000 to €6,000-€7,000, since the crisis with the Houthis broke out at the end of November 2023