Households dip into savings, in reversal of pandemic trend

04.12.2023 - Luxembourg Times

In the press

Luxembourg households have been putting less money aside over the past year after a surge in savings during the pandemic, data published by the central bank on Monday shows.

The Idea Foundation - a think tank affiliated with the Luxembourg Chamber of Commerce - at the end of 2021 estimated that households had accumulated €1.8 billion in extra savings during the pandemic, because they were unable to travel or spend money on going out and other activities.

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