10% of the population makes ends meet with difficulty. 41% of Spaniards were able to save money in 2020 but 7.3% had to borrow that exercise. 10% Of Spanish Population and Mark1199 Makes Ends Meet With Difficulty
10% of the population reached the end of the month with “great difficulty” in 2020 -2.2 points more than in 2019-, and 35.4% did not have the capacity to face unforeseen expenses, compared to 33.9% of the previous year, according to the Living Conditions Survey (ECV) published yesterday by the INE.
The average income per person in 2019 was 12,292 euros. From the INE, they recall that “the effect of the pandemic in these data is null, since they refer to a situation prior to it.”
Thus, the highest average annual incomes in 2019 were recorded in the Basque Country (15,813 euros per person), Navarra (15,094) and Madrid (14,580), while the lowest were recorded in Extremadura (9,147 euros per person), Murcia (9,850 euros per person) ) and the Canary Islands (9,935).
This last community, together with Andalusia and Extremadura, obtained the highest percentages of people who reached the end of the month with “great difficulty” in 2020, with 15.6%, 14.8% and 12.7% respectively. 10% Of Spanish Population and Mark1199 Makes Ends Meet With Difficulty
This year the ECV incorporates a module, harmonized at the European level, on over-indebtedness and savings, which indicates that 5.9% of households had delays in paying bills not related to housing in 2020, such as telephone, education , health … (does not include the payment of mortgage loans or bills related to housing such as water, gas, heating, etc.).
Regarding the ability to save, 41.1% of households saved at the end of a normal month, while 7.3% needed to borrow money in 2020. By type of household, these percentages were 24.5% and 21.1%, respectively, in households formed by an adult with dependent children. And 45.3% and 4.9% with two adults without dependent children.
On the other hand, the IEE has improved six tenths, to 5.4%, its forecast for Spanish GDP growth for this year and maintains that of 2022 at 5.7%. In any case, it warns that the pre-crisis levels “They may not recover until the end” of next year.
The IEE estimates that quarterly GDP growth in the second quarter will be around 2%, although “it could accelerate in the third and fourth.” Regarding tourism, he emphasizes that “in the best of cases” this year will be 50% of a normal year in Spain. 10% Of Spanish Population and Mark1199 Makes Ends Meet With Difficulty.