Survey: A 28.4% of Greek Households Had Bank Loans in 2020

September 23, 2021

ATHENS — A 28.4 pct of Greek households were burdened with bank loans (excluding mortgages) in 2020, of which 20.1 pct had one loan, 6.4 pct had two loans, 1.6 pct had three loans and 0.3 pct had four loans, while 71.6 pct of Greek households did not any loan, Hellenic Statistical Authority said on Thursday.

The statistics service said that 16.1 pct of poor households had at least one loan, while non-poor households with at least one loan totaled 30.9 pct. Of these, 55.1 pct of loans covered the purchase of assets, 45.8 pct daily expenses, 9 pct were for education, 7.7 pct for a vehicle, 6.9 pct for holidays, 3.7 pct for medical services and 1.7 pct financed a private company while 1.4 pct refinanced a loan. Bank or other financial institution accounted for 98.3 pct of funding, followed by a private sources (relatives, friends, etc) with 1.5 pct.

The average sum paid in interest and capital for household loans (excluding mortgages) was 236.15 euros. Greek households spent 295.82 euros last month to buy food and beverages, 120.46 euros to consume food and beverage outside the home and 150.36 euros for the use of private transport means.


NICOSIA — The European Union has earmarked 657 million euros ($736 million) for the construction of a a 2,000-megawatt undersea electricity cable that will link the power grids of Israel, Cyprus and Greece, Cypriot Energy Minister Natasa Pilides said Thursday.

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