Increase by 3.56 billion euros or 11.3% noted the disposable income of households and non-profit institutions serving households in the first quarter of this year compared to the corresponding quarter of the previous year, from €31.53 billion to €35.09 billion. Alongside, final consumer spending increased by 3 billion euros or 9.1%, from €32.6 billion to €35.6 billion. While, the savings ratedefined as gross saving to gross disposable income, it was -1.4% in Q1 2023compared to -3.4% in Q1 2022.

From ELSTAT data for the quarterly non-financial accounts of institutional sectorsthe following also follows:

Private investments (gross fixed capital investment) of non-financial companies amounted to 3.7 billion euros. The investment ratio, defined as gross fixed capital formation to gross value added, was 21.2% compared to 19.7% in Q1 2022.

A deficit was recorded in the external balance of goods and services of 6.4 billion eurosagainst a deficit of 8.21 billion euros recorded in the first quarter of 2022. Imports of goods and services amounted to 26.66 billion euros and increased by 0.79 billion euros, while exports of goods and services amounted to 18.45 billion euros and increased by 2.6 billion euros.

The General Government sector presented a net borrowing of 4.9 billion euroscompared to Q1 2022 when net borrowing was €3.9 billion.

In addition to, in the first quarter of 2023 a surplus was recorded in the external balance of primary incomescurrent and capital transfers of 0.26 billion euros, against a deficit of 0.06 billion euros recorded in the corresponding quarter last year.

As a result of the above, the overall economy showed a net borrowing of 6.14 billion euroswhile in the corresponding quarter last year the net borrowing amounted to 8.28 billion euros.