The transition of the Greek economy to the recovery of society

The transition of the Greek economy to the recovery of society

The transition of the Greek economy to the recovery phase, as well as specific social policy interventions have already begun to be recorded in the social indicators, as shown by the available data for the years 2016-2017, which creates the belief that the situation will further increase for 2018 and 2019.

It is indicative that in 2013 the unemployment rate in Greece reached the historical high of 27.5%. Since then, unemployment has declined significantly with the unemployment rate dropping by 8.3 percentage points, while over the last four years the number of unemployed fell by 400,700. Long-term unemployed (over 12 months of unemployment) experienced the largest increase during the crisis and are the majority of the unemployed. However, they also show the largest decline from 2015 onwards (-61.6 thousand in 2015, –61.4 thousand in 2016, -66.7 thousand in 2017). Drop in unemployment can also be seen in the remaining categories, based on the duration of the unemployed 0-5 months and 6-11 months.

Besides, in 2013 the unemployment rate in Greece reached the historic high of 27.5%. Since then, unemployment has dropped significantly, with the unemployment rate dropping by 8.3 percentage points, while over the last four years the number of unemployed fell by 400,700.

The early dropout of education/training among young people aged 18-24 shows a stronger downward trend in Greece than in the EU-28. In 2018, the EU-28 average is 10.6%, while in Greece it stands at 4.9%. The rate for men is 7.1% and for women 4.9%.

Social politics

Beyond that, Social Income Solidarity (CIS) was introduced in July 2016 and is the flagship of welfare policies to combat extreme poverty and social exclusion. The CIS was fully nationally implemented in March 2017 and amounted to EUR 550 million, increased to EUR 791 million in 2018 and an expenditure of EUR 850 million per year is planned for the period 2019-2022.

Family benefits gradually increased and in 2018 amounted to € 1.1 billion. Expenditure of € 960 million per year is planned for 2019-2022.

The vouchers for day cares have been steadily rising over the last four years, with the aim in the coming years that day cares will cover 150,000 children. In the school year 2014-2015, vouchers were given for 79,928 children, while in 2018-2019 the number rose to 127,026./ibna