The Ministry of National Economy and Finance commented on the significant recovery in household wealth since the beginning of 2022, according to data published by the European Central Bank (ECB).
According to the ECB, the total net wealth of households (which includes deposits, shares, bonds and real estate, minus private debt) in Greece reached 963 billion euros in the second quarter of 2024. This amount is up by 28.5% compared to 2022 and 40.1% compared to 2020.
More specifically, the ministry stated that the ECB data confirm two important elements:
Firstly, despite the fact that we still have a long way to go, household wealth in Greece is growing rapidly, faster than the European average. In particular, for the three-year period 2022-2024, its cumulative percentage increase in Greece (28.5%) is the largest among the eurozone countries.
Secondly, the distribution of wealth is fairer in Greece than in the majority of other eurozone countries, since assets, both movable and immovable, belong to more households. That is, compared to most European countries, wealth in Greece is concentrated in more hands.
Greek households rank (based on the median price) in 11th place among 18 eurozone member countries in terms of the value of the assets they own.
“In conclusion, the data on the evolution of household net wealth in Greece confirm, on the one hand, the country’s progress over the last five years and the improvement of the country’s position in relation to other eurozone countries, and on the other hand, the correctness of the economic policy which increases the wealth of Greeks and ensures its fairer distribution,” the announcement concluded.
