Revenues fell for 41% of Hungarians in 2020

Figures

Photo by Liptak Robert / Shutterstock.com

Some 41% of Hungarians said their revenues had decreased in 2020, compared to 35% of European respondents, according to a recent survey performed by data management company Intrum, writes novekedes.hu.

The study noted that the decline in income at the European level is mainly affecting those who have low income.

Roughly 63% of European respondents' income did not change last year, but many of them fear that it may soon fall, Intrum said. More than half of lower-income farmers tightened their belts, and reduced their purchases of non-vital goods.

To make ends meet 21% took on extra work during the pandemic, 16% borrowed from their families and 9% took out a bank loan.

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