Germans spend less money
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Consumers spend less money due to restrictions during a pandemic, and banks are wary of who to borrow money from in troubled financial times.
German residents amid the coronavirus pandemic amassed € 182 billion between January 2020 and January 2021.
Such data were provided by the Federal Bank of Germany, DW reports.
In total, the amount of money in private bank accounts reached 1.73 trillion euros.
The ifo Institute for Economic Research has calculated that this implies a so-called “savings surplus” of around € 100 billion, and this figure will rise further in the first quarter of 2021.
At the same time, during the pandemic, the amount of loans provided to consumers, including in the form of overdrafts, decreased, financial experts said.
According to Christian Nau, editor-in-chief of German price comparison site Check24, consumers are spending less money due to restrictions during the pandemic, and banks are wary of who to borrow money from in troubled financial times.
Recall that in the city of Delmenhorst (Germany) a 30-year-old man set fire to the mayor’s office… He told the police that he was tired of quarantine restrictions. –
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