One in ten Poles has financial problems due to pandemic - report

Marcin Obara/PAP

The coronavirus pandemic has made every tenth Pole experience financial problems, whereas the worst economic situation was reported by 40 percent of senior citizens, according to a study by the IBRIS pollster commissioned by Santander Consumer Bank (SCB).

According to the latest report "An Exceptional Summer on a Polish Budget," although the economic situation in Poland is difficult, consumers’ sentiment has not yet deteriorated significantly.

"Every third respondent considers his current financial situation as 'good' (32.3 percent), over 10 percent as 'very good', and almost half as 'average' (45.8 percent). The answers 'rather bad' and 'very bad' were expressed by only one in ten respondents," SCB wrote.

In March, at the very beginning of the pandemic 41 percent of Poles described their economic standing as "average." "Almost the same number of people (11 percent) as today, said it was bad," SCB noted.

The best ratings were indicated by people aged 30, as 18 percent of them declared their situation was "very good", with 40-percent as "rather good".

The report said that the financial troubles were mostly noticeable among people with children, where 12.4 percent of them assessed their situation as "bad", and 1.5 percent as "very bad."

According to the report, senior citizens were in the worst situation during the epidemic. Almost 40 percent of Poles aged over 60 are dissatisfied with their current finances. The crisis also affects the youngest age group, aged 18-29, as almost 13 percent of them assessed their situation as "bad" or "very bad".

The nationwide survey for the purposes of the report "An Exceptional Summer on a Polish Budget" was conducted at the request of Santander Consumer Bank by the Institute for Market and Social Research (IBRIS) on a representative sample of 1,100 adults. The study was conducted in May and June of this year by phone, using a standardised computer-assisted questionnaire (CATI).