ySTANBUL (CyHAN)- The average household savings rate
among Turkey's urban population has been declining since the 1990s, according to a recently released study.
Synopsis: Gallup research finds that business startups have declined in line with the personal savings rate
The Forum blamed the deficit, public debt and the low savings rate
as the main factors for the slump as well as a slight falloff in the performance of financial markets.
While people often associate the word "savings" with money in the bank, an increase in the savings rate
also means that people are paying down their debts.
Japan's National Savings Rate
has been reduced in recent years because of government deficit spending, but personal savings rates
have nevertheless kept the national rate above 20 percent.
As a result, the national savings rate
(national savings over GNP) is estimated to go up to 29.
With regard to participants' savings rate
, employees in the half of the plans that required automatic enrollment were saving a paltry 3%, according to the Defined Contribution Institutional Investment Association.
Basu said that the revival was slow owing to a drop in investment and savings rate
, which was expected to decline further in the coming fiscal.
With income rising faster than spending, the personal savings rate
During that decade the savings rate
averaged about 8.
Analysts said that what troubled investors was that the savings rate
soared to 6.
Going forward, one more decrease this year could mean 0% savings rate