Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. Report: 36% of the Romanian consumers say they...

Report: 36% of the Romanian consumers say they save more than they did 12 months ago

January 5, 2023

Inflation generated a domino effect in the growth of food and energy prices, and 36%  of the Romanian consumers (against 32% the European average)say they save more than they did 12 months ago, as they make sure they have financial reserves in case of economic trouble, according to the European  Report Regarding Consumers Payments,  edition 2022.   The Intrum report shows, according to a press release sent on Thursday , the awareness of the Romanians on the importance of personal finances, through saving and the development of a financial culture due to the pandemics and the present economic challenges and it focuses on the measures the consumers adopt to keep their financial balance as well as sustainable consumption.   'The economic and geopolitical uncertainty has a significant impact on the welfare of the consumers.More than 55% state the worries connected to a possible recession make them save more than the European average of 45%.  This situation leads to behaviour changes, as 70% of the interviewees state they simplified the social activity to reduce expenses. These decisions show the Romanians' awareness about the importance of understanding the economic flow.The creation of savings funds as well as financial education manifested in the sustainable consumption represent an important objective for the Romanian consumers' said Catalin Neagu, managing director Intrum Romania.   The study shows that the increase of life costs influenced 71% of the interviewees to be more aware of the expenses they make for things they do not need ( for example digital subscriptions).    At the same time, the Romanian consumers take into consideration the future financial threats and tend to adopt diversified measures to consolidate their economic welfare, such as: to establish objectives to manage their savings, to read the terms and conditions in the contracts or even to consult their acquaintances on issues connected to money.   According to the study, 51% of the Romanian consumers with weak financial education expect not to pay a utilities bill at least once in the next 12 months, as compared to only 29% of those with good financial education.'Even if the reasons for not paying a  bill are varied, financial education is important for the consumers, so that they fare well during difficult economic times. 7 out of 10 (69%) consumers stated that the worry about the growth of inflation and/or interests for installments make them improve their financial culture. Another 34% of the interviewees consider that, although they have received enough financial education, they need advice with regard to the more complex financial aspects, against 24%who are confident in their financial knowledge' the press release says.   Despite the unequal economic progress, there is an impulse for sustainability, thus 66% of the consumers choose to repair and recycle old products, instead of buying new ones, says the quoted source.   The study relies on the interview of at least 1,000 interviewees with 24,011 answers corresponding to 24 countries. The sample of this study was made up of women and men aged over 18, liable or partially liable for the expenses and income in their household.The research was made between July and August 2022.

Read in full - click here
Cirque du Soleil to bring "Ovo" show to Cluj-Napoca in April 2026

The famous show "Ovo" ("egg" in Portuguese), created in 2009 by Cirque du Soleil, is scheduled for April 23–26, 2026, at BT Arena in Cluj-Napoca.  So far, the classic Cirque du Soleil show has delighted over 7 million spectators in 40 different countries. Despite its age, it has been reimaged, with a new set, acrobatic […]

Energy group Electrica to list largest green corporate bond issuance in Romania

The state-owned group Electrica is set to list the largest green corporate bond issuance in Romania, worth EUR 500 million, on the Luxembourg and Bucharest stock exchanges. According to the company's press release, the European Investment Bank is one of the key participants in the issuance. Overall investor demand at the final price exceeded the […]

Wizz Air expands in Bucharest with new routes, additional aircraft at Băneasa Airport

Low-cost airline Wizz Air announced a major expansion of its operations in Bucharest, adding a second aircraft to its base at Băneasa Airport starting this October. The airline will relocate nine routes from Otopeni to Băneasa, five of which will be operated exclusively from the secondary airport.  At the same time, six new routes will […]

Inflation in Romania reaches 5.7% in June, up from 5.45% the month before

The annual inflation rate in Romania rose to 5.7% in June, up from 5.45% in May, according to data published on Friday, July 11, by the National Institute of Statistics. It is the highest level this year. The consumer price index, compared to May, was 0.45%. The inflation rate from the beginning of the year, […]

Taxi driver fined, barred from Bucharest airport after refusing passenger pickup

A taxi driver who refused to pick up a passenger at Bucharest’s Henri Coandă International Airport on Thursday night, citing the rule that prohibits the second car in line from leaving the queue, was fined and had his professional license suspended, according to the Romanian Police. Local news channel Digi24...

Southern Romania: New bridge over Buzău River opens for traffic

Local authorities in Buzău County, in the south-east of Romania, announced the opening for traffic of the new bridge over the Buzău River on Friday, July 11. At over 1.3 km in length, it is the second-longest road bridge in the country and is part of the Lot 1 Buzău – Vadu Pașii of the […]