Poles spend savings at increased rate
PR dla Zagranicy
Anna Bierzańska
17.09.2012 15:00
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Poles spend their savings at an increased rate. Report by Michal Kubicki.
A report by the National Bank of Poland shows that a fast growing number of Poles have little or no money in savings.
Only 3% of Poles have savings equaling their annual incomes. Many are now spending the savings they accumulated in previous years.
Business analysts ascribe the trend to an economic slowdown in Poland.
"People just don't have all that much disposable income to save",
says Marcin Sobczyk of the Warsaw Bureau of Dow Jones Newswires.
However Professor of Economics Witold Orlowski says the biggest barrier to saving is not being in the habit of saving.
Michal Kubicki cracks the numbers and asks: why don’t Poles save?