Estimates for 2023 indicate a 4.9% annual increase in the disposable income of households and non-profit institutions serving households.

According to the Statistical Service, based on preliminary estimates of the main macroeconomic indicators of the National Accounts by institutional sector for 2023, gross disposable income for the entire economy reached €27,981.9 million. Gross savings amounted to €3,463.0 million, while the net borrowing requirement stood at €2,998.7 million.

The disposable income increased by 4.9% compared to 2022, from €19,743.7 million to €20,713.2 million, while their final consumption expenditure rose by 9.8% in 2023 compared to 2022, from €17,030.2 million to €18,702.7 million.

Furthermore, the savings rate, defined as the ratio of gross savings to the gross disposable income of households and non-profit institutions serving households, was 9.9% compared to 12.1% in 2022.

The investment rate for non-financial corporations, calculated as the percentage of investments to the gross value added of the non-financial corporate sector, reached 19.8%, compared to 17.7% in 2022.