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Three quarters of Romanians worried about economic crisis

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Three quarters (76%) of Romanians are worried about a possible economic crisis that would affect their financial health, according to the findings of the 2022 edition of the UNSAR - IRES barometer on risk perception and insurance culture in Romania.

According to the poll, galloping inflation is a cause for concern for 68% of respondents, followed by war (64%), fires and car accidents (61%) and pandemics /illnesses (57%).

As they get older, the share of those who express great or very great concern about the possibility of unwanted events increases. At the same time, those living in urban areas and those on average incomes are more concerned about such issues.

The barometer also reveals that the latest developments in inflation have affected one in two Romanians, as a little over half of the respondents say that in the last year their income remained the same.

Despite the economic developments, almost four in ten respondents believe that they will save more in the year to come, compared to only two in ten saying the same in 2021. Similarly to last year, bank deposits would be the main place where they would park their financial resources, with four in ten choosing it. Also, a quarter of the respondents say they would invest in real estate.

"Now, more than ever, it is important for people to know that there are safe ways to save money for everyone, such as the financial protection plans offered by life insurance. Insurance can be an effective way to give sustainability to your entire estate and finances of a family," says Alexandru Ciuncan, director general of the National Union of Romania's Insurance and Reinsurance Companies (UNSAR).

The UNSAR-IRES barometer was conducted on a sample of 1,000 respondents aged 18 to 50 years, in May 2022, using the Computer Assisted Telephone Interviewing (CATI) method. 

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