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Greek barista Kyriakos Giannichronis has seen the headlines about his country\u2019s newly booming economy after years of recession \u2014 but he does not feel the wealth.<\/p>\n
The Athens resident only has about 150 euros ($170) to spare at the end of the month, and that is despite getting a good deal on rent and making a little more than minimum wage.<\/p>\n
Many Greeks face similar challenges \u2014 which is why Prime Minister Kyriakos Mitsotakis is widely expected to announce new benefits in a keynote speech this weekend.<\/p>\n
\u201cI am responsible enough for what I make, but\u2026 everything is going up and up. And the amount we get paid is around the same each year,\u201d he said.<\/p>\n
\u201cThings look like they\u2019re getting better, but it doesn\u2019t seem like it,\u201d the 27-year-old told AFP.<\/p>\n
Living standards in Greece remain low despite the Mediterranean country\u2019s substantial rebound which has the economy growing at two percent \u2014 a higher rate than in much of Europe.<\/p>\n
The reason for the two sides of the coin is that Greece has significant ground to make up after a near-decade economic crisis and pandemic recession.<\/p>\n
The economy \u201cis growing and all the right measures are improving, but starting from a very low basis,\u201d economist Nikos Vettas told AFP.<\/p>\n
\u201cEven if you have an increase now, this improvement is not enough to catch up,\u201d said Vettas, who heads the Greek foundation for economic and industrial research IOBE think-tank.<\/p>\n
To further complicate matters, housing and food prices had gone up because of inflation, which only now is on its way down.<\/p>\n
\u201cThe cost of living actually neutralised part of the increase in the wages that we had, and as a result the real incomes of many households are suffering,\u201d Vettas said.<\/p>\n
Mitsotakis\u2019 conservative government \u2014 which is dipping in the polls \u2014 has blamed the high cost of living on soaring energy prices that followed the war in Ukraine.<\/p>\n
His New Democracy party is currently polling at around 22 percent, a far cry from the 40.56 percent it won in national elections last year.<\/p>\n
Mitsotakis is expected to announce a new round of benefits in the prime minister\u2019s annual economy speech in Thessaloniki this weekend.<\/p>\n
Last year, the country of just over 10 million people had the second lowest GDP per capita in purchasing power within the European Union.<\/p>\n
Only Bulgaria fared worst, according to EU data agency Eurostat.<\/p>\n
It also found that average annual income in Greece was half the European average in 2023.<\/p>\n
And the Greek minimum wage is 830 euros, some 900 euros below that of France.<\/p>\n
\u201cSo how are you supposed to live, if you have to rent a house with 500 euros?\u201d asked Athens hairdresser Christina Massiou.<\/p>\n
\u201cLife is so expensive that you can\u2019t set aside money for emergencies,\u201d the 24-year-old added.<\/p>\n
She and her friend Alexandra Siouti, who works at a PR agency, spoke from under a palm tree at a beach near Athens.<\/p>\n
They had gone to relax and \u201cescape from reality\u201d, Massiou said.<\/p>\n
\u201cI have seen the older generations say that things are getting better. For them maybe,\u201d Siouti, also 24, told AFP.<\/p>\n
\u201cBut younger people don\u2019t have many opportunities here to start their life and invest in their dreams.\u201d<\/p>\n
Last month, the economy ministry said household net disposable income had risen in recent years, putting Greece in 16th place in the European Union.<\/p>\n
The data confirmed the \u201csignificant progress our country has achieved in the last five years\u201d, the ministry said in a statement.<\/p>\n
But the ministry acknowledged that it was not cause for celebration or a reason to \u201cunderestimate the real difficulties that many of our fellow citizens face\u201d.<\/p>\n
\u201cIt is obvious that Greece has not turned into Switzerland or Sweden,\u201d it said.<\/p>\n
Vettas, the economist, noted that some sectors have fared better than others.<\/p>\n
\u201cWe have witnessed in the last three or four years a sharp increase in the salaries of professions where they have some speciality, some expertise,\u201d he said.<\/p>\n
\u201cEither at the upper end or the lower end,\u201d Vettas added, giving the examples of computer scientists and construction workers.<\/p>\n
But for those employed in a sector like hospitality \u2014 a big industry in Greece \u2014 \u201cit\u2019s not easy to see how you\u2019re going to improve their position\u201d.<\/p>\n
Giannichronis, the barista, said he was trying to remain zen about the economic situation, despite having to think about money all the time.<\/p>\n
\u201cI\u2019m not furious because it wouldn\u2019t do me any good. Things are the way they are. We can\u2019t change much,\u201d he said.<\/p>\n
What he can control is how to budget his own expenses and help his friends better manage theirs, he added.<\/p>\n
\u201cBut if I was angry about it too, then I would start to lose myself and go crazy on the streets shouting\u2026 and I don\u2019t want that.\u201d<\/p>\n<\/div>\n