Residents of Latvia are the most pessimistic in the Baltics about their financial situation

In the Baltic countries, the number of residents who negatively assess their financial situation is growing. The situation has changed most significantly in Latvia: here, more than in neighboring countries, the number of people dissatisfied with their material condition has increased, and confidence that the family budget will suffice for the coming months has decreased. This trend is particularly pronounced among men and young people under the age of 29. In October, 39% of representatives from both groups reported a deterioration in their financial situation. At the same time, the share of residents who noted an improvement in their material condition has decreased by six percentage points over three months, down to 10%. People have also become less confident that they will be able to cover upcoming expenses. In July, 66% of residents of Latvia believed that they would be able to meet their financial obligations in the next three months. By October, this number had dropped to 56%. Those most concerned about upcoming expenses during the winter period are middle-aged and older individuals. More than half of the survey participants - 55% - reported that their financial situation had not changed. However, compared to July, the share of such responses decreased by 5%. A similar situation is developing in Lithuania and Estonia. 26% of residents of Lithuania and 40% of residents of Estonia reported a deterioration in their financial situation. Compared to July, this figure has increased by 7% in both countries. In Estonia, as in Latvia, residents are increasingly less confident that they will be able to cover their expenses in the next three months. In Lithuania, the situation is different: although a quarter of respondents report a deterioration in their material condition, almost seven out of ten residents of the country are confident that they will be able to control their expenses. This is the highest figure among the Baltic countries. Seasonal and economic factors influence residents' sentiments. In the fall, people particularly acutely feel the rise in the cost of living and utility expenses. The geopolitical situation and fluctuations in fuel prices add to the uncertainty. The survey results show that residents of Lithuania assess their ability to cope with financial difficulties more confidently, while in Latvia and Estonia, people are increasingly cautious about upcoming expenses.