The price increases after this summer's VAT hike have leftpeople with less and less money for savings, and, considering thatbanks are no longer willing to pay very high interest rates ondeposits, the population's savings have slowed downsignificantly.
At the end of August the population had nearly 62 billion RON(equivalent to 14.5 billion euros). Excluding the impact ofinflation, the amount is 3.9% lower than a year before, accordingto data from the NBR (National Bank of Romania). This is the thirdmonth in a row where the annual variation is negative, and,moreover, the decline is deepening.
"The population's savings started on a downward trend over the lastfew months, amid a decline in the cash available as a result of theincome decline, and the depreciation of the RON against hardcurrencies, which increased the population's indebtedness level. Iexpect the downward trend of deposits set up by the population tocontinue because of the lower living standards," says MelaniaHăncilă, chief economist of Volksbank.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
