The Greeks began to save more money "for a rainy day"

A slight decrease in deposits of 15 million euros (against an increase of 2.318 billion euros in March) was recorded in the private sector during March 2023, according to official data from the Bank of Greece.

As it turned out, deposits (contributions to personal bank accounts of citizens) of households increased by 1.129 billion euros, while deposits of enterprises decreased by 1.144 billion euros.

In particular, according to the data of the Bank of Greece, the monthly net flow of all deposits was positive by 42 million euros in April 2023, compared to 2,979 million euros in March 2023.

1. Government deposits

General government deposits increased by 57 million euros in April 2023 compared to an increase of 661 million euros in the previous month, and the annual rate decreased to 1.7% (from 3.2% in the previous month).

2. Private sector deposits

Private sector deposits decreased by 15 million euros in April 2023 compared to an increase of 2,318 million euros in the previous month, and the annual rate decreased to 3.7% (from 4.5% in the previous month).

3. Corporate deposits

Business deposits decreased by 1,144 million euros in April 2023 compared to an increase of 1,581 million euros in the previous month, and the annual rate decreased to 3.6% (from 7.2% in the previous month). In particular, the total value of MXE deposits (securities, bonds) decreased by 1,153 million euros compared to an increase of 2,180 million euros in the previous month. Deposits of insurance companies and other financial institutions rose by 9 million euros, compared with a decrease of 600 million euros in the previous month.

4. Deposits of households and private non-profit organizations

Household and private non-profit holdings increased by 1,129 million euros in April 2023 compared to an increase of 738 million euros in the previous month, while the annual rate was almost unchanged at 3.7% (up from 3. 6% in the previous month).

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