12.1 C
Bucharest
February 28, 2021
BUSINESS

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.

Related posts

NEWS IN BRIEF

Test

Tradeville launches Ulysses, an aggregator of stock investment ideas

Nine O' Clock

The new Burger King in AFI Cotroceni – over 6,000 customers served in the post-opening weekend

NINE O'CLOCK