Greece Sees Highest Pension Spend in EU

Greece spends the highest percentage of its GDP on pensions compared to other European Union member states, Eurostat says.

Despite the fact that pensions have been slashed dramatically during the economic crisis, the Greek state continues to give a large part of its GDP to pensioners, the highest percentage than any other EU nation.

According to the European statistical authority, pension expenditure in 2015 amounted to 17.8 percent of GDP, the highest in the EU. The percentage of GDP does not mean that Greek retirees get high pensions, it mostly has to do with the high number of pensioners compared to the active workforce.

Read More: Greek Reporter