Almost half of Poles worry about health and financial issues: study

People who are worried about health the most – 34 percent – are less than those who fear about the health and financial consequences of coronavirus (45 percent), shows a study commissioned by BIG InfoMonitor, a Warsaw-based financial consultant. These fears are not unfounded. The survey found that every fourth respondent lost their job or part of their salary. At the same time, the study shows that pandemics and stagnation of the economy do not stress either in health or financial terms every tenth respondent.

Almost every fifth respondent informs that they have money for a maximum of one or two months. There is also a similar share of pollees who declare that their savings will last up to three months. The strongest fear of finances is currently experienced by people who do not have any money set aside, or at the most one month’s income. In this group, 36 percent say that owing to the mobility restrictions caused due to the coronavirus, they have enough money for a maximum of two months.

One-third of respondents are uncertain about the situation and cannot predict how long it will persist. Respondents do not know how their employer will react – whether they will lower their salary or dismiss them, or maybe suspend their activities, which would also result in the loss of work. The survey results show that the situation is very dynamic – 16 percent of respondents have already signaled that their income has fallen, and 7 percent have lost their livelihood. Among entrepreneurs, this problem affects up to 75 percent of people.

Employees’ feelings are confirmed by the forecasts of entrepreneurs who announce that the crisis has forced them to act. That is why in three out of four companies there will be no increases and bonuses this year, but salary reductions may occur. About 40 percent of entrepreneurs declare that they are considering dismissals as well as withholding payment of wages.

“At the end of March, half talked about reducing expenditure, and at the beginning of April, six out of 10 respondents planned to tighten the belt. This behavior is obviously understandable but unfortunately, it will additionally have a negative impact on the economy, reducing the chances of survival of many companies and more jobs,” a spokesperson said.

According to BIG InfoMonitor and BIK (Credit Information Bureau) data, at the end of February, i.e., before the outbreak of the pandemic, more than 2.81 million people had problems with timely repayment. Their total arrears reached PLN 79 billion.

The study was conducted by 4P, using computer-assisted web interviewing, on a representative sample of 1,010 Poles aged 18-75, on March 25-27, 2020.

(ISBnews)