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Expenditures by 26 pc lower for the winter holidays 2008 – 2009

The holiday expenditures were lower, as against the previous year, according to ‘Ziarul Financiar.' BNR data indicate that payments in economy decreased, during end of the year, by 26 per cent compared to the winter 2007-2008.

Over December 20 - January 4, the daily average value of the payments settled through ReGis, part of the Electronic Payment System, which secures high value transfer processing, reached RON 15.7 bln, which is by almost 26 per cent less than during the winter holidays of the previous year. All the payments made in economy through banks are settled within ReGis system.

Ionut Dumitru, chief economist at Raiffeisen Bank, said that the financial flows in economy were lower because of the overall slowdown economic activity. The decrease in payments is indication to a diminished number of transactions conducted in economy or a value decrease of them.

The daily peak of the payments made during holidays, registered on December 23, was lower this winter. It amounted to RON 23.3 bln (close to EUR 5.8 M), compared to RON 29 bln registered on December 21, 2007.

Yet, one cannot speak about a diminished appetite of households for cash, considering that a significant slowdown was also registered in November for the banking deposits, according to BNR.

 

Sursa: http://www.nineoclock.ro

Tags: payments lower holidays winter bnr

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