Greece will raise pensions in 2023 - the first time in over a decade

Greek Prime Minister Kyriakos Mitsotakis

Greece will push through pension increases next year for the first time in more than a decade, its prime minister Kyriakos Mitsotakis has said.

During its decade-long financial crisis that broke out in 2009, Athens was forced by its international lenders to slash pensions more than 10 times, in order to reduce state spending and meet its fiscal targets.

The country accepted three international bailouts and went through a significant economic upheaval that caused many young Greeks to leave the country.

Mitsotakis said Greece had successfully turned a page from the financial chaos.

Reflecting on 2015, the peak of the financial crisis, when Greeks were queuing outside banks due to capital controls, he noted the country's recent progress. 

"Fortunately all this belongs to the past. Today Greece is a different Greece," he said.

Copyright Greekcitytimes 2024