Thessaloniki | September 2018
EUR 12.49; EUR 4.02 (USD 4.68) for food. This is based on per capita per-day basis of the at-risk-of-poverty threshold for single person household, and lowest quintile households’ average proportion of expenditure on food and non-alcoholic beverages (excluding restaurants).
Greece follows EU’s poverty definition, where the at-risk-of-poverty threshold is 60% of the national median equivalized disposable income after social transfers, and is calculated for different household sizes. The overall monetary poverty rate in 2017 was 20.2%. Greece (and EU) also track at-risk-of-poverty together with social exclusion (severe material deprivation and very low work intensity) – 34.8% of Greece’s population was at-risk-of-poverty or social exclusion in 2017.
Greece’s unemployment rate in 2017 was 21.5%, down from 27.5% in 2013. However, youth unemployment rate remains high – 43.6% in 2017, the highest in Euro area. Social transfers, especially pensions, has led to a significant increase in disposable income – in 2016, the value of social transfers including pensions was 0.2 times that social transfers excluding pensions. Median equivalized net income for households with two or more adults with dependent children reached EUR 9,592 after social transfers compared to EUR 2,819 without, in 2016.
Note: Latest available standards and exchange rates were taken as of Sep 2018, when the photography was undertaken.