1/3 of Greek Households Earn Less than 10,000 Euros



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According to a survey conducted by Small Enterprises’ Institute of the Hellenic Confederation of Professionals, Craftsmen and Merchants (IME-GSEVEE), almost one in three Greeks are facing poverty and debt, while the disposable income has slipped below the poverty line.

The survey data show that Greek households are facing difficulties in meeting their daily obligations. Meanwhile, the absence of legislation regarding home foreclosures, along with the property tax increase, have fueled a new wave of insecurity.

Three out of ten Greek households are forced to live with the lowest annual family income, which is less that 10,000 euros. The rates are even higher in households with two and four members. A total of 46.9% of the Greek population stated that the family income is insufficient, not meeting their everyday needs, and 55% said they needed additional help, such as loans from relatives, asset sales or bank loans.

Furthermore, 35.9% of households in Greece (more than 1 million) have at least one unemployed member. However, only 8.9% of these people receive unemployment benefits. The survey also found that 52% consider pensions as their main source of income.

The fact that Greek households have increased their private expenditure on health care, due to increased private participation and reduced public expenditure on health, is also worrying.

Finally, it was estimated that over 54% of households were asked to pay more than 500 euros for property tax in 2014. The corresponding figure in 2013 was 46.8%. Three out of ten families in Greece have expressed their fear of losing their home due to the overwhelming financial responsibilities and additional taxes.