Alpha Bank pointed to “tax and contribution fatigue” as preventing an improvement in the job market in crisis-battered, and by extension, in keeping the unemployment rate at a high level.
According to the Greek lender’s weekly economic bulletin, higher taxes have negatively affected consumption, while higher income tax rates and greater social security contributions have also prevented an economic turnaround that would boost employment.
Finally, along with higher special taxes on fuels, the bank cited a commensurate increase in international oil prices over the recent period.
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