A prospective economic crisis is a source of concern for three-quarters of Romanians.
Three-quarters of Romanians, more precisely 76% of them, are concerned that a prospective economic crisis might affect their finances, according to a poll on „Risk perceptions and insurance culture in Romania,” performed last month on a sample of 1,000 respondents aged between 18 and 50.
The poll was conducted by the National Union of Romanian Insurers and Reinsurers (UNSAR) and the Romanian Evaluation and Strategy Institute (IRES).
According to the poll, the steep inflation rate is a concern for 68% of the interviewees, followed by war (64%), fires and automobile accidents (61%). The pandemic and/or other diseases is a source of concern for 57% of Romanians.
As the age increases, the proportion of people worried about possible undesired events also rises, the poll indicates. City dwellers and average-income categories are also more concerned with these aspects.
The growing inflation has affected one in two Romanians, with little over half of the respondents saying their revenues remained steady over the past year.
In fact, inflation has been steadily on the rise in Romania recently. The increase was prompted by the spike in fuel and electricity prices, which entailed chain reactions throughout the economy.
According to data made public recently by the National Statistics Institute, the most severe price rises have been reported in the past year for natural gas, foodstuffs such as sunflower oil, flour and potatoes, and sewage services.
Experts estimate that inflation will continue to go up for a while, and the conflict in Ukraine, which affects exports, will keep grain prices up.
The poll also indicates that in spite of the economic growth, nearly 4 in 10 respondents believe they will save more money in the coming year, as opposed to 2 in 10 interviewees who provided this answer in last year’s poll.
Just like in 2021, bank deposits are the main savings options for Romanians, with 4 in 10 people saying this is the method of choice for them. Another one-quarter of the respondents said they would invest in real estate.
„Now more than ever, it is important for people to know that there are safe savings options, available to everybody, such as the financial protection plans provided by life insurance policies. Insurance may be an efficient solution to ensure sustainability to the finances of a family,” said Alexandru Ciuncan, head of the National Union of Romanian Insurers and Reinsurers.
Leyla Cheamil, Radio Romania International
