About 60% of Romanians say they have contracted loans and 37% claim that they have mandatory monthly expenses identical to the earnings, a survey conducted by iSense Solutions and published on Thursday reads.
The survey also reveals that 30% of those who already have loans would like to access a new loan the following year, but the accessing a new loan would target to terminate the previous one, which could lead to a “debt spiral”.
In terms of accessing a loan, Romanians have the highest confidence in banks, 83% of them say they would resort to such institutions if they needed money, stirileprotv.ro reports.
On the other hand, 14% of the respondents mentioned that they would borrow from a non-banking financial institution if a bank refuses to grant the loan.
45% of Romanians do not have family savings, and the reason why some Romanians still make savings is especially related to unforeseen situations they have to face.