Romania posted the highest share of households where the financial situation has deteriorated over the past year but also among the highest shares of households that are faring better – which illustrates the large and widening income discrepancy in Romania, despite a general improvement in the average living conditions.

Some 30% of the Romanians estimate that their families’ financial situation has worsened over the past year – the highest share among the EU member states and a number of other European countries covered by the latest Eurobarometer carried out in April/May 2024. Only Turkey reported a higher share (37%) of households with deteriorating financial conditions. 

The average share among the entire EU’s population is 18%. Countries like Greece (27%), Cyprus and Slovakia (23%), or Austria (22%) posted shares above average. 

The share of households where the financial situation deteriorated was only 4% in Denmark (the lowest among EU member states) while single-digit shares were reported by the Netherlands, Sweden, but also Latvia.

On the upside, the share of Romanian households reporting a better financial situation this year was 27%, among the highest in the EU and 5pp above the EU-wide average (22%). 

iulian@romania-insider.com

(Photo source: Aaron Amat/Dreamstime.com)