Greek economists support state-matched savings accounts for children

A majority of economists participating in the KEFIM Greek Economists Panel support a new government measure to establish savings accounts for children. According to a survey of 20 economists, 75% believe the initiative is moving in the right direction, while 25% disagree.

The policy, announced at the IMF Annual Meetings, allows parents to open special accounts during a child's first two years of life. For every euro deposited by parents, the state will provide a matching euro, with an initial maximum state contribution of 1,200 euros per year. This limit is set to increase by 10% every five years. The accumulated capital is intended to remain locked until the child reaches adulthood, with specific exceptions allowed.

Participants noted that the measure could strengthen Greece's savings and investment culture by providing a strong incentive for families to build long-term capital. Experts emphasized the importance of offering approved investment products to ensure higher returns over the long term compared to standard bank deposits. Additionally, there is a call to link this initiative with financial education to ensure young people possess the necessary knowledge to manage their capital upon reaching adulthood. Some concerns were raised regarding whether lower-income families will be able to benefit from the measure equally.