site.btaOver 75% of Households Struggle to Cover Their Daily Expenses

In the third quarter of 2022, household income remained unchanged for 67.3% of the people compared to the last 12 months. This share is down more than 5 percentage points (pp) from the previous two quarters, but is still significant, according to a survey by the National Statistical Institute.

At the same time, the share of people struggling to cover their daily expenses remains relatively high at over 75%.

An increase in income was reported by 27.9% of respondents, which is 8.7 pp more compared to the second quarter and 9.4 pp more compared to the first quarter when 18.5% of people saw their income increase.

The main reasons for the increase in incomes in all three quarters were increases in pensions and social benefits and wage indexation.

A decrease in income for the last 12 months was indicated by 4.8% of respondents, which is 2.9 pp less compared to the second quarter and 3.7 pp less compared to the first quarter of 2022.

In the third quarter of 2022, as well as the previous quarters, the share of people who have difficulty covering their daily expenses is relatively high - over 75%, while 38.5% have some difficulties, 28.3% define covering daily expenses as difficult, and 10.8% as very difficult.

Compared to the previous quarters, the share of people who cover their daily expenses with great difficulty decreased, at the expense of an increase in those who experience some difficulties 

The NSI survey results also show that 18.1% of people can relatively easily cover their daily expenses, and only 4.3% do not experience any difficulties. In total, the share of persons without difficulties in Q3 of 2022 increased by 0.9 pp compared to the second quarter and by 0.7 pp compared to Q1.