Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  January 28, 2013 13:39:51

Czech household wealth in 2011 increased by 168 billion

Prosperity Czech households during the economic boom of the Czech economy in the period 2005 to 2008 has grown significantly. After successfully overcoming the crisis year of 2009, in 2010 and 2011 dealing with money Czech households have changed, even in those years, however, grew their fortune.

"Wealth of Czech households in the form of net worth surpassed seven billion crowns for the first time in 2010 and at the end of 2011 was nearly 7.2 trillion crowns," said analyst CSO Drahomíra Dubská.

The rate of household consumption in 2010 and 2011 and declined significantly in the first three quarters of 2012, these expenses compared to the same period of the previous year in real terms even nominally lower. Effort to reduce the consumption of Czech households have responded to the decline in its total income, which in 2011 compared with 2010 almost 19 billion lower - wages and salaries, while men gained nearly 28 billionmore, but the benefits of business households fell by 26 billion and net income from the assets of 3 billion.

Czech household saving rate in 2011 fell to 9.6% of their total income. Unlike the boom years people have invested significantly less in tangible assets. While in 2005-2007 the investment grew annually by an average of 10.6%, primarily due to purchases of houses and flats in the crisis year of 2009 decreased by 3.5% in 2011 even 11.8%.

A comparison of the different types of savings showed that during the years 2007-2011 increased the most deposits on demand deposits, and by 71% to 807.2 billion. On current and giro accounts it lay at the end of 2011 almost 30% of total household savings. On time deposits and savings deposits increased significantly less (by 10.2% to 731.2 billion dollars).Household wealth in mutual funds has narrowed over the period of 91 billion crowns. Building savings deposits increased by 46 billion crowns in the pension by 24 billion, and the amount of money in their accounts of life insurance increased by 64 Czech households billion.

Ing. Drahomíra Dubská, PhD.
Analyst CSO
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Bohatství českých domácností v roce 2011 vzrostlo o 168 mld.Kč

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