Slovaks have the second highest average debt in the Central and Eastern Europe region, an association called Working Poverty pointed out on Monday, referring to the latest Allianz Global Wealth Report 2021. The report also shows that while the average Slovak owns net financial assets of €7,531, the average Czech has €21,607 and the average Pole €9,882. "Apart from low financial assets, Slovaks have the second highest average debt in the Central and Eastern Europe region. So we are second worst in terms of net financial assets and second worst in terms of debt. And we are the worst in the debt to financial assets ratio," pointed out socio-economic analyst Jan Kosc. "This catastrophic picture isn't surprising. It's a logical consequence of the low incomes of the Slovak population and also a consequence of the non-existence of a housing policy, which literally forces Slovaks to burden themselves with mortgages on an overpriced housing market," said Kuruc. While Slovaks have debts averaging 53 percent of total financial assets, Poles are second in the Central and Eastern Europe region, with a 33-percent debt ratio.
Source: TASR
