NBP: Poles are saving less

Poles are saving less and less, as reported by the Polish National Bank (NBP) in a report measuring the financial situation of Polish families. In an IAR release, in the last quarter of 2013, the savings of Poles increased to PLN 31 billion. This is an increase quarter-on-quarter of PLN 5.5 billion, but still represents a dwindling amount of disposable income devoted to savings. Three quarters of savings are placed in bank deposits, while a smaller percentage is invested in the stock market. In Q4 2013, Poles increased their financial liabilities twofold q/q, taking new credit loans for over PLN 6.5 billion.