{"id":926,"date":"2024-12-04T23:59:13","date_gmt":"2024-12-04T23:59:13","guid":{"rendered":"https:\/\/in-greece.com\/index.php\/2024\/12\/04\/oecd-disposable-income-will-boost-consumption\/"},"modified":"2024-12-04T23:59:13","modified_gmt":"2024-12-04T23:59:13","slug":"oecd-disposable-income-will-boost-consumption","status":"publish","type":"post","link":"https:\/\/in-greece.com\/index.php\/2024\/12\/04\/oecd-disposable-income-will-boost-consumption\/","title":{"rendered":"OECD: Disposable income will boost consumption"},"content":{"rendered":"


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Greece\u2019s economy is strong and is projected to grow at a rate of 2.3% in 2024, 2.2% in 2025 and 2.5% in 2026, according to the biannual OECD Economic Outlook report released by the Organization for Economic Cooperation and Development on Wednesday.<\/p>\n

\u201cRising disposable income will strengthen consumption, as a tight labor market and minimum wage increases support wages,\u201d according to the report.<\/p>\n

The OECD notes that real household income per person is rising and is higher at present than before the pandemic, as well as being higher than expected based on pre-pandemic trends.<\/p>\n

The fact that Greece \u2013 together with Portugal and Spain \u2013 is one of the few OECD member-states with upward revisions of potential per capita growth \u201calso indicates that structural reforms are yielding benefits over the course of time, as these countries are among those that carried out the most reforms in the two previous decades,\u201d the report noted.\u00a0<\/p>\n

Employment growth is projected to ease progressively amid rising labor costs, the report said.\u00a0<\/p>\n

It noted that nominal wages have increased by 8.6% in the second quarter of 2024 on an annual basis, while labor shortages are historically high.\u00a0<\/p>\n

Inflation is expected to reach 2% in late 2026 amid persistently high service costs and core inflation.<\/p>\n<\/p><\/div>\n

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