Greek Households' Available Income up 3.8% in 2019

Αssociated Press

Women wearing face masks to curb the spread of COVID-19 as they walk in front of the ancient Parthenon temple in central Athens, on Wednesday, Oct. 21, 2020. (AP Photo/Petros Giannakouris)

ATHENS -- Greek households' available income grew by 4.5 billion euros or 3.8 pct in 2019, compared with 2018, Hellenic Statistical Authority said on Thursday. In a report, the statistics service said that final consumption spending rose 2.6 billion euros or by 2.1 pct in 2019, while the savings rate (gross saving/gross available income) rising to -3.5 pct in 2019 from -5.2 pct in 2018.

The investment rate by non financial companies (gross fixed capital formation/gross added value) was 17.1 pct in 2019 from 16.8 pct in 2018. The external balance of goods and services recorded a deficit of 3.0 billion euros in 2019, down from a shortfall of 3.8 billion in 2018. Imports grew by 2.8 billion euros and export rose by 3.5 billion euros. The economy recorded a net borrowing of -1.6 billion euros in 2019 after a -4.3 billion euros in 2018.