11:37 - 25.05.2021

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May 25, Fineko/abc.az. A decrease in savings was recorded in Azerbaijan in 2020, along with the income of the population, and the coefficient of propensity to save decreased.

ABC.AZ informs that this is stated in the report of the Accounts Chamber on the Bill on the implementation of the State Budget 2020 and the annual report on the budget execution.

“During the year, there was a decrease in the deposits of the population by 5.3%. Although the long-term quarantine regime has led to a decrease in household-funded consumer spending, this decrease has not led to an increase in savings, but rather to a decrease in the propensity to save ratio, which is the ratio of household savings to household income. The fact that the part of the income directed to accumulation does not receive a preferential position in exchange for a reduction in consumer spending can be explained by a decrease in the income of the population in real terms," the report says.