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August 5, 2021

Romanians spent more on food and loan installments in 2010

According to a Mercury Research survey quoted by Mediafax, in 2010 Romanians earmarked most of their incomes, approximately 48 per cent, for food and loan installments, more than they did at the start of the crisis in November 2008. At the same time they lowered their expenditures on clothes, personal care products, furniture and education.

“Most part of the Romanians’ total monthly incomes (40 per cent) continues to be spent on food, up from last year’s 38 per cent. While in November 2008 expenditures on loan installments totaled 5 per cent of their monthly incomes, in 2010 they reached 6-8 per cent. Likewise, at the start of the crisis Romanians spent 7.4 per cent of their incomes on education, but at the end of 2010 they were spending 5 per cent. Their savings dropped from 5 per cent of their incomes at the start of 2009 to 3 per cent at the end of 2010,” a Mercury Research communiqué points out.

Compared to previous years, Romanians have lowered their expenditures on food and other categories of products and services, such as telecommunications, personal care products, holidays and nights out.
The crisis has affected 85 per cent of Romanians over the age of 18, up from the 77 per cent level reported in March 2010. Four out of ten Romanians were more concerned with their financial situation. “The financial crisis most strongly affected members of the 35 to 50 age group, households that had a lower level of financial wellbeing and low income persons,” the communiqué adds.

For most of those affected by the crisis (57 per cent) the negative effect was felt when it came to their incomes and living standards. Likewise, the purchasing power drop/price hike was felt by 44 per cent of those affected. 4 per cent of the Romanians affected by the crisis lost their jobs. The survey was conducted on November 2010 on a sample of 1,200 persons.

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