Results

logo logo logo

< Previous page

31/03/2020
The impact of the COVID-19 situation on citizens’ finances
in Results

Following the surveys on the COVID-19 situation, IDRAPOLL conducted another survey using the online panel.

The following question was asked to the panel: Thinking about the current situation of COVID-19, on a scale from 1 to 10, where 1 = VERY NEGATIVE IMPACT and 10 = VERY POSITIVE IMPACT, how do you think this situation will affect your FAMILY’s finances?

For analytical purposes, we have transformed the rating scale from 1 to 10 into five different categories: where 1 and 2 mean “very negative”, 3 and 4 “negative”, 5 and 6 “neutral”, 7 and 8 “positive” , 9 and 10 “very positive”.

This survey aims to understand citizens’ perceptions on what they anticipate will be the toll on their familys’ finances, due to the restrictive measures being taken. It should be noted that the question was about the family finances not personal ones.

 

The obtained sample is N = 681, weighted with respect to urbanity, region, gender and age so that the results are representative for population age 18-54. The margin of error for this sample is 3.8%.

The results from this sample indicate that citizens’ expectations are generally negative. About 70% of respondents say the impact on their families’ finances will be Negative. On a deeper perspective, almost 1 in 2 citizens (48%) say the impact will be “very negative”. Meanwhile, 22% of respondents say they do not expect any impact on family finances from this situation while only 8% say they expect positive impact.

The data show that expectation is similar in proportions for both urban and rural residents.

Furthermore, the survey shows that women appear to be “more concerned” than men about the impact on family finances. About 76% of women state that the situation will have a negative impact versus 68% of men.

Respondents were categorized into 3 major income groups: low, middle, high (grouping is done through an indirect question to the panelists on their monthly purchasing ability) and then the data were cross-linked with answers to the question about the impact of the situation on family finances.

Almost all the groups state negative expectations but there are differences between them. It is interesting to see that those categorized as “middle income” families expect a higher negative impact on their income than “low income” families (76% to 68% respectively).

One way to interpret this result is that from the information released to the public, it appears that the government’s package of economic assistance in this situation does not adequately address those with “middle income” but has a greater focus on those with low income (also considering that the provided payment will be at the minimum wage level).

On an interesting note, there is a very negative expectation of those who declare themselves as self-employed. About 94% of this category in the survey state that their family finances will be negatively affected (71% “very negatively” and 23% “negatively”). This group is probably the most affected by the restrictive measures. Kindly be reminded that this question was answered by 47 self-employed respondents and the interpretation of the results are indicative and not considered solid from a statistical point of view.

 

 

 

© 2018 - 2020 IDRA Research & Consulting