Save on good times For bad times, that’s what companies and families in the province did last year, according to the latest data from the Bank of Spain on the development of the economy. bank depositsreflecting something important Money held in Alicante’s accounts is backafter the decline during the pandemic.
Specifically, at the close of last September, the branches of the province accumulated as follows: 36,205 million euros in private sector deposits, i.e. 1.583 million more than in the same period of 2021. The 4.6 percent increase, which intensified especially in the second and third quarters of this year, which corresponds to 2015. full recovery of the tourism industry After the end of all restrictions due to coronavirus, Revitalized the provincial economy and a new access is granted employment record.
It is a period that coincides with the beginning. Ukraine war and rising inflationThis led to the allocation of part of the profit from the normalization of the operation to the enterprise. precautionary Savings, that is, to create a cushion in case the situation worsens.
Pointing to the combination of these elements to explain this increase in savings in the province, the experts consulted by this newspaper interpret it this way, at least. In this way Director of Studies, Ineca, Francisco Llopisdon’t hesitate to describe “positive” The data he attributes to a number of factors starts from the good moment the labor market experienced in those months. Also, without the effects of inflation forcing households to expand their budgets for current expenditures, Llopisprobably the increase would have been higher.
In any case, Llopis also remembers that the figure continues. Below before the pandemicA record 40,198 million reached at full cap, when it exceeded 38,000 million in Alicante branches and given the impossibility of spending and accumulating liquidity by companies with ICO loans.
Along the same lines, professor of Applied Economics at the University of Alicantetaltavull pigeon, The lifting of restrictions will not only stimulate tourism, but also return of many second home ownersthose who bring money into their accounts.
In any case, Taltavull draws attention to this duo as well. economic recovery combined with fear of uncertainty To explain the increase in the savings of the people of Alicante, it caused many families to postpone some large purchases. So keep in mind that the indicators reflect that spending on durable goods is growing much less than overall spending.
In any case, the professor actually believes that this increase in deposits the trend that occurred in the years before the epidemic and that has been interrupted by the coronavirus.
positive balance
With this new rise, the global financial balance of the people of Alicante is becoming more and more positive, as savings exceed the debts accumulated by companies and states, which has decreased significantly over this period. Specifically, if Alicante private sector backlog in September 2021 credit For a value of 36,301 million, this figure was reduced to 2022 in the same period of 2022. 32,462 million.
Now it remains to be seen what will happen in the coming months. Therefore, the statistics of the Bank of Spain already show that, Inflation is forcing many families to trash their checking accountsIn some provinces, the balance of deposits has already begun to decline. Conversely, those with a significant tourism component in their economic activities, such as the Balearic Islands, Malaga, Tarragona or Girona, continue to increase their savings volume.