esko is the richest in the region

Are they rich or spe poor? The point is, let’s compare with km. The wealth of households in financial products was assessed by a study of the UniCredit financial group. How do we stand in comparison with the other hundreds of Central and Entrance Europe and how do you know the original European patents? Where are the two pensions?

The finann wealth of Czech households will grow at a rate of 10.2% this year (from 9.4% growth in 2004). Its source will be solid wage growth, a social system and a price boom on the stock market. Wealth of Czech households so well over the limit of 67% HDP R and on these values ​​should remain until 2008.

This follows from a study by the UniCredit financial group on the financial wealth of households in Central and Eastern Europe. The average year of financial wealth of households in selected countries of Central and Entrance Europe (new EU countries R, SR, Poland, Hungary, Croatia, Romania, Bulgaria plus Turkey – according to only NE-8) from 2000 to 2004 was in the region 10%, while the original EU states (EU-15) recorded only 2% nrst.

Compared to the overall share of wealth, households are in GDP – in NE-8 it reached only 52%, while in the original EU-15 it was 185% of GDP. Wealth per person in NE-8 thus amounted to 2327 euros at the end of 2004 (47 904 euros in the EU-15). The Czech Republic is the richest country in the NE-8. Each echo is affected by financial wealth in the amount of 5746 euros, which is 29% more than the population of Hungary, which falls as a kind of money (4468 euros). This city was occupied by Croatia with 4233 euros per capita.

The growth of total financial wealth in NE-8 is expected to be strengthened by changes in the structure of financial assets of households. In 2004 and 2008, wealth in the NE-8 should grow by an average of 13% (always compared to the previous year) and will reach 560 billion euros at the end of 2008. That represents 3416 euros per person. Of the monitored countries, the financial wealth in the Czech Republic should grow at the lowest rate, by 8%. On the contrary, the largest increases can be expected in Romania (19%) and Bulgaria (17%).

A table comparing the financial wealth of households in Central and Eastern Europe can be found HERE.

The rate of indebtedness in the Czech Republic is significantly higher than the growth of household assets. Debts of Czech households will increase by 29% this year and reach 16.7% of GDP R. In the coming years, the dynamics of indebtedness should gradually decrease. In 2008, according to the study, household debt will reach a quarter of the Czech GDP. Also, the overall value of the percentage of wealth in GDP will gradually decline, as in Hungary, Romania and Slovakia. As household debt is primarily associated with the dynamic development of the mortgage market, this fact can be seen as a transfer of household assets from financial products to real estate. In contrast, in Poland and Bulgaria, certain financial wealth will continue to show an increasing trend.

As for the structure of indebtedness, the well-known truth is confirmed that they are still indebted due to housing (over 50%). The biggest will be for this year mortgages (increase in aunt compared to last year). vry obanm a leasing they will grow by a quarter.

KI have two pensions

Due to the outlook for Czech interest rates in the coming years, it can be assumed that traditional bank deposits will slowly recover and will grow slightly, while the koruna’s strengthening will end. However, deposits together with cash will lose their balance in the distribution of financial wealth. There will be a shift to sophisticated investments and tools.

U building spoons The effect of low support provided since January 2004 began to show. In June, the growth of building savings was 16.4% (compared to 21.2% in December 2004). The declining trend will continue in the future, although the popularity of this product will remain relatively high due to the very low risk and relative sun exposure.

Assets in eskch mutual funds Rises due to low years of rates, which motivated the population to seek a profit, not as traditional banking instruments offered them. Historically, the growth fund was a record in 2002 (73.9%). About half of the total amount went to money market fund, which confirmed the fact that investors are perhaps the most conservative investors in the world, especially after many of them drank many pensions during the poor purchase of privatization in the late 1990s. However, it seems that their yard is gradually moving, at least according to the current spit of pensions equity fund. It is expected that the share of funds will increase another 22 billion crowns in total for the second half of the year, which would mean an increase of 28.9% for the whole year. For 2006, the growth was 13.6% – due to the expected weak performance of the stock market.

Growth of assets of individuals invested in kotovanchcennch paprech is estimated at 34.4% this year due to the boom in the stock markets and the growing number of newly signed brokerage contracts. According to the study, even in the first year it is possible to anticipate the interest of small investors in buying action, nrst investment u but will not be as strong as this year: ron finger investment in the action in 2006 should reach only 1%. It is expected that in 2006 there will be a slowdown in the growth rate of stock prices on the stock exchange and this year’s enormous number of the stock index of the stock exchange will not be repeated.

Indicator / year 2000 2001 2002 2003 2004 2005 2006 2007 2008
Finann wealth (% of GDP) 59,9% 61,1% 63,0% 63,9% 65,0% 67,3% 67,2% 67,4% 67,4%
Zadluen (% HDP) 6,8% 8,0% 9,3% 11,5% 13,8% 16,7% 19,3% 21,6% 23,6%
is finann bohatstv (% HDP) 53,1% 53,2% 53,7% 52,4% 51,2% 50,6% 47,9% 45,8% 43,9%

Nrst (always compared to the previous year)
Cash 5,0% 9,6% 11,9% 7,0% 9,8% 6,5% 4,7% 4,1%
Bank deposits (retail) -3,9% -5,4% -2,1% 1,7% 2,4% 3,2% 3,5% 3,8%
Stavebn spoen 34,7% 31,5% 21,2% 11,8% 8,4% 8,1% 8,0%
Other securities do not stock 88,9% -37,3% -1,0% 63,5% 4,2% 8,8% 10,8% 2,4%
Ktovan shares -7,6% -2,2% 36,8% 50,6% 34,4% 0,6% 0,8% 1,2%
Catch funds -13,0% 73,9% 6,3% 11,0% 28,9% 13,6% 12,0% 10,7%
Spoc sloka ivotnho pojitn 14,3% 15,5% 11,8% 11,7% 11,3% 10,6% 10,3% 8,5%
Pension funds 25,8% 25,8% 21,1% 22,2% 20,4% 19,5% 20,4% 20,6%
Total financial wealth 9,9% 7,5% 7,3% 9,4% 10,2% 7,3% 7,1% 7,0%
Mortgages 35,0% 32,5% 43,9% 43,2% 32,6% 27,3% 21,4% 17,6%
vry obanm * 25,6% 17,3% 15,2% 18,8% 25,0% 20,2% 16,3% 14,5%
Leasing 10,2% 6,4% 39,0% -1,1% 23,4% 20,9% 19,2% 17,7%
Total debt 27,0% 22,1% 30,7% 28,4% 29,0% 24,3% 19,5% 16,6%

Note: *) vry obanm zahrnuj spotebitelsk vry, kotokorenty, ostatn vry (na nkupy cennch papr atd.) a vry z creditnch karet

Source: study UniCredit

Association pension fund announced that 11 pension funds in the country had accumulated 103.4 billion crowns at the end of the first half of the year by 20.8% more than a year earlier. The number of pension fund clients increased by 185,700 to a total of 3.135 million. For 2006, the study assumed continued strong interest in savings in pension funds, which will provide them with a key role. It will also be important to implement the pension reform, which will take the lead from the elections in June 2006. However, the impact of financial resources on pension funds is expected to remain at around 20% in the years to come.

This year, the largest fingers should be cut and quoted into quoted securities (34.4% mentioned above), mutual funds (28.9%) and pension funds (20.4%).

Developments in other parts of the region should have been similar, but each has its own specifics. Likewise, the original European patent is not homogeneous in this respect. While, for example, it dominates Germany and France ivotn pojitn (approx. 20% of all financial assets) together with basic financial instruments (mainly bank deposits), in Great Britain and the Netherlands more than 50% of household disputes are stored in long-term products (especially life insurance and pension pipojitn). Spain, in the original EU Member States, represents the most interesting case of most disputes in banks on deposits and the level of pensions in insurance and pension funds is low).

Where do you take your pension? Do you think the study will be confirmed in the future? Drink nm, dark on your ideas and experiences.


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