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Romanians Deem Saving Important, 60% Have No Funds Saved – Survey

Around 83% of Romanians respondents to an IMAS International survey say that saving is important, but over 60% of participants have not saved money so far, and do not expect an improvement in the next five years.
Romanians Deem Saving Important, 60% Have No Funds Saved - Survey
14 oct. 2009, 16:48, English

The average amount monthly saved by a person is 183 lei (EUR1=RON4.2940).

In Romania, 83% of the respondents believe saving is important, compared with 79% in Austria, 57% in the Czech Republic, 68% in Ukraine, and 69% in Serbia, while 8% were indifferent.

Romania, Hungary and Serbia are among the countries where people are discontent with the value of saved amounts.

Thus, in Romania only 26% of the respondents are content with their savings, compared with 19% in Hungary, and 22% in Serbia. In Austria and the Czech Republic, 54% of the respondents were content with their savings.

Around 43% of the Romanians believe they will save less in the next five years, 33% think they will save the same amounts, and only 24% consider they will save more money, while in most of the other countries, over half of the respondents expect to save the same sums in the next five years.

Romanians are more pessimistic regarding the saved amounts due to the inflation risks, the uncertain economic environment, the potential job loss or income decrease.

Almost half of the Romanian respondents (compared with 17% in Austria, 13% in the Czech Republic, 22% in Hungary, 24% in Serbia and 12% in Ukraine) appreciate the investment of funds in higher risk assets, such as bonds, listed shares, or other funds.

The survey was conducted on 513 people aged over 15.