Romanians’ financial well-being severely hit by COVID-19

The financial well-being of 67% of Romanians has deteriorated compared to six months ago due to the COVID-19 pandemic, shows a report by Intrum.

The share is similar to that in Greece and the highest in the EU. The EU average is 48%

The percentage of Romanians expecting their well-being to increase over the next six months, 28%, is also above the EU average (23%), but not among the highest.

The Estonians are by far the most optimistic, with 63% of them expecting an improvement in the next half a year.

The standard of living of Romanian consumers has registered several key changes. Some 41% of Romanian consumers stated that their jobs were affected by the COVID-19 crisis, through salary reductions or technical unemployment.

About 38% of consumers say that after paying the bills, they have difficulties in finding resources for monthly expenses, the most affected being the 38-44 age segment. As a result, 65% of respondents postponed the payment of bills to cover monthly expenses.

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