Report: Average Slovak has around €5,000 at their disposal

Slovakia placed 36th in terms of average assets minus debts in private households among more than 50 countries surveyed by the latest Allianz Global Wealth Report. According to the document, the average gross financial assets of ordinary Slovaks equalled €9,182 as of the end of 2012. This shrinks to €5,010 when private debts, including consumer loans and mortgages, are deducted.

Slovakia placed 36th in terms of average assets minus debts in private households among more than 50 countries surveyed by the latest Allianz Global Wealth Report. According to the document, the average gross financial assets of ordinary Slovaks equalled €9,182 as of the end of 2012. This shrinks to €5,010 when private debts, including consumer loans and mortgages, are deducted.

On a yearly basis, the gross assets of Slovak private households increased by 8.1 percent, the TASR newswire quoted the report. At the same time, debts went up by 13.2 percent year-on-year. Net savings swelled by only 4.3 percent compared to the end of 2011, which was the lowest figure recorded in the area covering Central and Eastern Europe. When compared with the pre-crisis figures, net financial assets of Slovak households rose 37 percent, which was conversely the highest figure posted. Moreover, the volume of net financial assets has more than doubled since the year 2000.

In a regional comparison, Slovakia was among the countries with the lowest level of assets, with people in the Czech Republic having at their disposal net assets worth twice as much (€10,096). The figure for Austria was eight times higher (€41,985). Only people in Ukraine ended up considerably worse, with average net financial assets per person amounting to €1,303. Switzerland was at the other end of the scale, with net financial assets per person standing at €141,000. Next came the United States (€100,000) and Japan (€83,000).

(Source: TASR)
Compiled by Zuzana Vilikovská from press reports
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