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January 19, 2022

A Romanian’s financial assets 13 times less than a German’s

A Romanian owns financial assets 13 times lower than those held by a German and twice lower than a Polish national, and mainly under the form of illiquid assets, which raises major problems with respect to the financial resources that could be used in old age, according to a Romanian financial assets that averaged 4,500 euro/person in cash and deposits in Romanian and foreign banks. Per capita GDP stood at 6,100 euro per Romanian and five time higher than a German’s. Also, according to the report, only 9 pc of Romanian pensioners can afford a one-week vacation away from home, against 76 pc German counterparts. The report also gives the decline in potential GDP, by a reduction in the work force and capital contribution, and  increasingly high pressure put on the state budget by a rise in social security spending and the impact on savings rate, as the main consequences of population ageing.

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