Government expected to double Greeces monthly cash withdrawal limit

first_imgIn a sign of a strengthening economy, Greece’s capital controls are set to ease even further with the government expected to increase the amount residents can withdraw from their bank accounts each month by double.The withdrawal limit currently stands at €2,300 per month, and could rise to anywhere between €4,000 and €5,000.The catch is that the cash will have to remain in Greece, with the aim to increase local spending.Whether the government goes ahead on the plan, and the precise figure, will all depend on the country gaining approval from creditors, which is expected next month.However if the increase goes ahead, not many locals are expected to take banks up on the offer.According to Kathimerini, with the average salary in Greece being €1,000 per month, those with over €2,000 in the bank are certainly not the majority. Data has revealed that the average working person in Greece withdraws below €1,000 per month, or closer to €800.Meanwhile when it comes to international travellers to Greece, the Ministry of Finance is considering raising the current set limit from €2,3000 to €3,000 per month. Facebook Twitter: @NeosKosmos Instagramlast_img read more