The Greek statistics authority ELSTAT published the results of a study regarding the regular cuts in wages and pensions in the public sectors, along with the restriction of welfare.
According to the data employee compensation was reduced to 22% of total expenses (5.595 billion euros) in the final quarter of 2013, from 23.1% (6.439 billion euros) and 23.5% (6.96 billion euros) in the final quarters of 2012 and 2011 respectively.
At the same time, the cost of welfare services dropped to 39.6% of total expenses (10.087 billion euros), comparedto 42.7% (11.901 billion euros) and 41.6% (12.318 billion euros) in the final quarters of 2012 and 2011.
Meanwhile, ELSTAT documented an increase in primary expenses, which amounted to 93.1% of total expenses in the final semester of 2013, up from 92.8% in 2012 and 87.6% in 2011.
The ELSTAT study also showed that income taxes amounted to 23.1% of the general government’s revenue and that the public debt at the end of 2013 was 318.7 billion euros, with 99.1% of loans being long-term.
