If they were to run out of income, 65% of Romanians would not be able to cover their expenses for even a week. Almost half (46%) of the population do not make savings, and of those who do, 27% do not put money aside in an emergency fund, according to the results of the latest national study reflecting Romanians’ attitudes and habits in the financial field, made by KRUK Romania together with IRES in November this year. In contrast, 25% of Polish people say they could live at least a year on the money accumulated in such a fund, according to a comparative analysis by the company. 29% of Romanians never plan their budget, and 30% can afford to buy only what is strictly necessary, the study shows. However, 10% of the population cannot afford basic expenses, while in Poland, the percentage of those with insufficient income is only 3%. If they had a large amount of money, 14% of Romanians would not save at all. Otherwise, most (33%) would deposit the money at the bank or invest in real estate (11%), while only 5% of those surveyed would open a business and only 2% would be willing to invest on the stock exchange. 14% of the population would keep the money at hand. In terms of priorities, the majority of respondents first pay their utilities and services (98%), then the usual household purchases (95%) and the health expenditure (95%); instalments (88%) would be paid before the transport (76%) and education costs (68%). Romanians accumulate arrears especially on invoices, due to too low incomes or unforeseen situations; their percentage (18%) is almost double than that recorded in Poland (10%), and the comparative analysis reveals differences in terms of debt responsibility: only 32% of Romanians believe they are personally responsible for the difficulties caused by the failure to pay financial obligations on time, compared to 43% of Polish respondents. Although fear of social stigma and the pressure of penalties are driving more Romanians to pay their arrears, 13% say they can live in peace even if they delay the payment, and 40% of those surveyed think it is unfair to be foreclosed if they do not pay on time. 88% expect to be rewarded if they pay off their debts on maturity. The good news is that the average amount saved by those who manage to put money aside has increased to lei 1314 in 2023 (lei 960 in 2021, lei 1125 in 2022), but also the percentage of those who manage to raise over lei 1000 per month increased from 20% last year to 27% in 2023.
President Nicușor Dan has nominated Senate president Ilie Bolojan, a leader of the National Liberal Party (PNL) and former interim president, for the prime minister seat. Dan said Bolojan is “the best person to carry out the needed adjustments in the state administration.” He pointed to Bolojan’s track record with reducing spending, and said he has […]
Balkanik Festival – Home of World Music, set to take place at Uranus Garden between September 5 and September 7, lines up this year artists who "celebrate that form of joy that does not ignore reality, but faces it with beauty, energy, and solidarity," the organizers said. The artists performing in September in Bucharest will […]
The mayor of Timișoara, Dominic Fritz, announced on Friday, June 20, that two new bridges over the Bega River will be built in the city. The bridges will be financed with EU-backed funds worth over RON 130 million. The bridges in question are the Solventul Bridge, which will connect Gării Street to Dâmbovița Boulevard and […]
A Sarmatian necropolis nearly 2,000 years old was discovered after archaeological excavations were carried out at the Mehala II site in the municipality of Timișoara, in western Romania. Researchers discovered 15 inhumation graves, most arranged in rectangular pits with rounded corners, although some no longer retain their original outline, having been disturbed by the passage […]
The George Enescu Philharmonic Orchestra will deliver on June 26 a concert marking Romania Day at the Osaka World Expo. Additionally, the Bucharest-based orchestra will present a series of other concerts and recitals, both within the Romanian Pavilion and outside, at Toyonara Hall in Osaka. The George Enescu Philharmonic Orchestra's concerts will be conducted by […]
Sphera Franchise Group, the largest food service group in Romania, has opened its first Cioccolatitaliani store in the seaside resort of Riccione, in Italy’s Rimini tourist area. This marks the official launch of Sphera Group’s development plan for the premium Italian brand of coffee, gelato, and pastry. Under the plan, it will open four locations […]
