MNB: households’ willingness to save in the third quarter declined

By: Trademagazin editor Date: 2021. 11. 17. 11:25

Households’ financial savings fell by a third to 681 billion HUF in the third quarter compared to the previous year, by 14 percent year-on-year, according to preliminary data published by the Magyar Nemzeti Bank (MNB) on Wednesday. Most recently, in the first quarter of 2019, the value of households’ transactions in financial claims was lower.

Decreased household savings

Borrowing amounted to 402 billion HUF in the third quarter, 214 billion HUF less than in the previous quarter, but 82 billion HUF higher than a year earlier. The net savings of 278 billion in the balance of savings and liabilities are the smallest in five years, 137 billion HUF less than in the second quarter and 192 billion HUF a year earlier. (MTI)