“Inflation eats up excess savings,” concludes the new study by Agenda economist Marcell Göttert. The wealth that grew in Corona has almost disappeared with the pandemic. Because of inflation.
Besides all the bad that Corona brought, there was also good: nature temporarily recovered due to less traffic, just like people’s bills. Oversaving is the cumbersome magic word. Salaries and subsidies poured in, shopping was limited by various lockdowns. There was more left.
18.3 billion euros surplus in the first corona year 2020
The Agenda Austria calculated amazing things for the households. 18.3 billion euros surplus in the first corona year 2020, a year later at least 12.4. The crash in 2022 – to minus 4.2 (see chart). Because of inflation, which is galloping wildly especially in Austria.
Corona financing as a blessing
The wealth that grew in Corona has almost disappeared with the pandemic. Because of inflation. Without the Corona funding, says Göttert, you would still be standing
much worse there. At minus 22 instead of minus 4.2 billion.
A study in Germany found something similar. Although inflation is lower there, which will have a more positive effect in the long run, there were fewer subsidies. Göttert criticizes the government.
“Close your eyes and shoot the dartboard”
Not only because of too few measures against inflation, but also because of the lack of accuracy of the billions in payments. “It was like shooting a dartboard with your eyes closed.”
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
