Two-thirds of Romanians are less well off than they were half a year ago due to the effects of the coronavirus, according to a European-wide report.
Romania ranks along with Greece as the countries where consumers are the most impacted by the crisis across the EU, the Intrum survey showed. The average in countries surveyed across the 27-member bloc was 48%.
Intrum published a special edition white paper this week that outlines the financial impact of Covid-19 on private households across 24 European countries. Some 4,800 people were interviewed in May in 24 EU countries.
“The Covid-19 crisis is going to have a lasting impact on how to manage private finances. With that said, an overall financial awareness and the possibility to change financial spending and thus increase savings, allow many European consumers to overcome these uncertain times in a somewhat positive way,” Mikael Ericson, CEO of Intrum said.
Even if Romanians are reporting that the health crisis has dented their pockets, 28% believe the situation will improve in the next half year, more than the EU average of 23%.
“A positive aspect that was observed among consumers whose incomes didn’t fall was that they managed to save money, they were more careful with the prices of things they bought, and didn’r impulse buy,” Simona Mincu, Intrum Romania’s marketing manaer was quoted as saying by bursa.ro.
“A quarter of consumers will remain online shoppers, even after restrictions are listed,” she said.
The pandemic hit living standards, with 41% of Romanian consumers saying their jobs were affected by salary cuts or by being furloughed.
Some 38% of consumers say that after paying the bills, they find it hard to cover their monthly expenses, with the 38-44 age group, the worst affected.
About two-third postponed paying bills to be able to pay for monthly expenses.
Estonians are the most optimistic Europeans, with nearly two-thirds expecting an upturn in the next half a year