Slovaks would rather spend than save

IN THE YEAR ahead Slovaks should have more cash as real wages are estimated to grow by as much as 3.5 percent. They are, however, expected to spend rather than save most of the money, reported the Národná Obroda daily.

The rate of savings has been falling for years now, while consumption is on the rise. Moreover, as much as four-fifths of the population do not consider it suitable to save at present. This is because low interest rates do not make saving worthwhile.

Even if the inflation rate drops to 3.5 percent this year, interest rates are expected to fall even lower, the daily concluded.

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