Three out of ten Romanians say their incomes decreased on average by RON 800 (EUR 164) per month during the COVID-19 pandemic, according to an iSense Solutions study.

"On average, Romanians whose incomes have decreased have lost about RON 800 of their monthly income, from RON 2,800 to RON 2,000, which means that the financial impact of the last period is significant, translating into a reduction of incomes by almost 30%," the study concluded, according to Wall-street.ro.

The data also suggests the drop in incomes occurred among the low-income categories, given the average net wage of around RON 3,200.

Romanians in urban areas were affected to a greater extent by the decrease in income (36%) compared to those living in rural areas (22%). Also, those with low incomes were more affected by the decrease of incomes (42%), compared to 38% of those with average incomes, and 25% of those with above-average incomes, reveals the cited research.

Romanian consumers now tend to adopt more cautious behaviors in terms of spending. In the context of lower revenues, most (70%) say they will buy only what is strictly necessary for the next period.

Regarding the Romanians' plans to recover financially, 62% state that they will spend less, 61% that they will save, 24% want to borrow from friends/family, 18% think of looking for a second workplace, and 11% believe they will have to take out a loan, iSense Solutions researchers found.

editor@romania-insider.com

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