Spain : Selected Issues

Publication Date: August 02, 2013
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Summary: This Selected Issues paper analyzes household savings ratio in Spain. The household savings ratio has fallen to its lowest historical rate in 2012, as households cut back savings to support consumption in response to negative income shocks. Household savings fell across all households, but the declines were likely more material among lower income and highly indebted groups. Declining household income and savings slowed deleveraging and put household balance sheets under pressure. Looking ahead, households may need to restrain consumption further to free resources for repaying debt. Household savings rates will likely stay below historical levels for some time then slowly increase.
Series: Country Report No. 13/245
Subject(s): Fiscal policy | Private savings | Current account | Private sector | Debt restructuring | Pensions | Selected issues | Spain

Publication Date: August 02, 2013
ISBN/ISSN: 9781484371312/1934-7685 Format: Paper
Stock No: 1ESPEA2013004 Pages: 31
US$18.00 (Academic Rate:
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