A new Eurostat survey on household savings across the European Union in 2023 paints a troubling picture for Greece and Romania, the only member states to record negative savings rates of -1.9% and -6.8%, respectively. This signifies that households in these countries are spending more than their gross disposable income, relying on accumulated savings or borrowing to cover their needs.
According to Eurostat data, while the average EU household saved 13.2% of its disposable income, Greece and Romania stand out with rates below zero.
In contrast, the highest gross savings rates among EU countries were observed in the Czech Republic (19.4%), Germany (19.3%), and Hungary (19.0%), with Switzerland surpassing all at 22.0%.
A total of 11 EU member states recorded savings rates below 10.0% in 2023, but only Greece and Romania registered negative figures.
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