Greece shows economic growth, but the daily struggle persists for its citizens.

Greece shows economic growth, but the daily struggle persists for its citizens.

Greece shows a growth of 2% in 2023, but many citizens are still in crisis with low wages and high costs, reflecting a harsh reality.

Juan Brignardello Vela, asesor de seguros

Juan Brignardello Vela

Juan Brignardello Vela, asesor de seguros, se especializa en brindar asesoramiento y gestión comercial en el ámbito de seguros y reclamaciones por siniestros para destacadas empresas en el mercado peruano e internacional.

Juan Brignardello Vela, asesor de seguros, y Vargas Llosa, premio Nobel Juan Brignardello Vela, asesor de seguros, en celebración de Alianza Lima Juan Brignardello Vela, asesor de seguros, Central Hidro Eléctrica Juan Brignardello Vela, asesor de seguros, Central Hidro

The economic climate in Greece has shown signs of recovery after a decade of crisis, reflected in a 2% growth in gross domestic product (GDP) in 2023. However, for many Greeks, the improvement is barely an illusion. Despite the encouraging data, daily life remains a constant struggle for the population, which feels trapped in a cycle of low wages and rising prices. Kyriakos Giannichronis, a 27-year-old barista, is a clear example of this situation. With a salary that barely exceeds 830 euros a month, he finds himself with only 150 euros left at the end of the month after paying his rent. "Everything is going up," he laments, reflecting the frustration felt by many Greeks who, despite optimistic statistics, do not see how these improvements translate into an increase in their quality of life. Prime Minister Kyriakos Mitsotakis is aware of this disconnect between macroeconomic figures and the everyday reality of citizens. This weekend, during the Thessaloniki International Fair, the Prime Minister is expected to announce new economic support measures. These statements come at a critical moment, as his party, New Democracy, has seen its popularity plummet following disappointing results in the recent European elections. Nikos Vettas, an economist and director of the IOBE foundation, emphasizes that while the Greek economy is growing, this is insufficient to reverse the damage caused during the previous financial crisis. "The economy is growing, but from a very low base," he explains. This means that advances in GDP do not automatically translate into improvements in living standards, especially when housing and food prices have risen significantly. The situation is further complicated by rising inflation rates and the increasing cost of living, which have neutralized wage increases. "The real incomes of many households are affected," Vettas states, reflecting the concerns of those whose finances barely allow them to cover the basics. This cycle of high prices and stagnant wages leaves many Greeks struggling to survive. Mitsotakis's government popularity has fallen drastically, with the party now at 22% in voting intention, far from the 40.56% it achieved in the 2023 legislative elections. This loss of support is partly due to the government's inability to effectively address the rising prices and economic difficulties facing society. Christina Massiou, a young hairdresser, shares her concerns about the cost of living. She wonders how it is possible to live decently with rents hovering around 550 euros. "Life is so expensive that it's impossible to save for emergencies," she says, a common sentiment among young people trying to build their lives in a hostile economic environment. The perception among younger generations is that while their parents may have seen better times, today's youth have few opportunities to improve their situation. Alexandra Siouti, a friend of Massiou, highlights that opportunities to start an independent life are limited, generating a sense of hopelessness among young people. For its part, the Ministry of Economy has insisted that the net disposable income of households has increased in recent years, positioning Greece 16th in the European Union in this regard. However, this data contrasts with the experiences of many, who still feel they have not emerged from the crisis. The reality is that Greece has not transformed into a prosperous country like Switzerland or Sweden. Some sectors, such as construction and technology, have performed better, but for those employed in crucial sectors like hospitality, improvement remains elusive. Giannichronis, working in a café, points out the difficulty of seeing a clear path to a better future in his industry. In conclusion, despite economic figures suggesting a rebound, the daily lives of many Greeks tell a different story: one of struggle and adaptation to an economic environment that still does not provide the stability and well-being they long for. The disconnect between statistics and the reality of citizens may be the greatest challenge that Mitsotakis's government will have to face in the near future.

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