Gross financial assets of Slovak households shrank 3% last year
The gross financial assets of Slovak households shrank 3% last year, but are still 14% higher than in 2019, according to Allianz’ Global Wealth Report. Global household assets also fell 3%, the steepest drop since 2008, due to the downturn in financial markets. Slovaks' new savings plunged 87% after the pandemic, but savers withdrew funds from bank deposits to invest in capital markets. As a result, Slovak households bought a record €1.5bn worth of securities last year. Due to rising interest rates, the growth of Slovaks' debts slowed, but at 50% of GDP, debts remain the highest in the region. With net financial assets of €9,010 per capita, Slovakia ranks lowly 40th in the world.