ECONOMY FINANCE&BANKING

INS: A household’s monthly average savings at 14.3 pct of incomes in 2016

A household’s monthly savings last year amounted to 14.3 percent of total incomes, by 1.8 percentage points higher from 2015 (standing at roughly 420.6 lei), the National Institute of Statistics (INS) informs in a document made available at the request of AGERPRES.

“A breakdown by household categories is as follows: employee households saved on average + 15.1 percent of incomes; pensioner households + 14.9 percent; farmer households + 9.1 percent; households of self-employed in non-agricultural activities + 8.9 percent; households of unemployed saved + 6.4 percent,” the document shows.

An analysis of the total income to expenditure ratio of the households according to various distribution criteria reveals most households managed to make savings irrespective of the distribution criterion. However, this does not apply to the poorest 10 percent of the households and to those with 4 and more children, whose spending exceeded incomes and which had a resource deficit.

“The households with the smallest savings (less than 10 percent of total revenues) were single-person households (+ 7.8 percent), those in the age group 15-24 years (+ 8.0 percent) and the households with 3 children (+ 6.4 percent). Incomes exceeded expenditures by 17 percent on average in the households of higher education (+ 17.2 percent), informs INS.

INS adds that in 2016, self-employed households resorted to the smallest extent to loans and savings, with the amounts used averaging just 11.7 lei (0.6 percent of total expenditures).

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