PIE: savings rate of Polish households three times lower than euro zone
In the first quarter of 2024, Poland's household savings rate was 4.9%, significantly lower than the Eurozone average of 15.4%, marking one of the lowest rates in Europe, according to the Polish Economic Institute (PIE). The report noted that while savings have been historically low in recent years, they are beginning to rise again due to increasing real wages and a focus on building financial buffers amid economic uncertainty.
In contrast, Germany reported the highest savings rate at 21.2%. Analysts highlighted that Poland’s low savings rate reflects moderate incomes and limited financial literacy, with only 4.87% of households investing their savings, compared to the EU average of 9%. The report underscores a structural tendency towards low savings in Poland.
(PAP)
