SYN THESISINE@COVID-19, 23-Dec-2021

December . 23 . 2021 SYNTH SIS IN @ COVID-19 www.ine.pt page 11/20 Communication Unit | tel: +351 21 842 61 10 | sci@ine.pt What was the impact of the pandemic on the financial situation of households? According to the 2020 Household Financial Situation Survey, conducted between October 2020 and February 2021 (provisional results): • The financial situation of households in Portugal in comparison with that before the pandemic: • The impact of the pandemic on the financial situation and income of households was greater in households that depended on labour income in the period before the pandemic; • Among households where the reference person (who in most households is the individual with the highest income) was working before the pandemic, the reduction in income was more frequent: » In lower-income households; » In households where this individual had a level of education below higher education, they were self-employed or in the Accommodation and food services sector; • Situations of partial reduction of labour income were more frequent than job loss or total loss of income; The percentage of households in which the reference person faced these different situations was quite different depending on the type of household and reached higher values for those with lower income and education levels; • Layoffs or support to self-employed workers were more frequent in middle-income households; • Most of the households that experienced a reduction in income due to the pandemic decreased spending on non-durable goods and services; The other most frequent measures to address the reduction in income were: » Use of accumulated savings or the sale of valuable assets; » Recourse to moratoria on main residence mortgages; » Postponing the purchase of a house, car or other durable good; » Help from family or friends. More information is available at: Household finance and consumption survey - 2020 (15 December 2021) It got worst for 28% It got better for 3% It was the same for 69%