Eight in 10 tighten the purse strings
Eight in 10 households are cutting back sharply on expenses, including food bills, due to their shrinking disposable income, according to recent survey results.
Households in the toughest position are those belonging to lower-and medium-level income groups and those living in rural parts of the country, according to the conclusions of a survey conducted by Focus Baris between September 2010 and March this year.
Specifically, 83 percent of households said they have cut spending as the country’s economic conditions continue to worsen, up from 66 percent in September and 52 percent in March last year.
Seventy-five percent of respondents said that they are cutting down on entertainment expenses, while 69 percent have reduced spending on clothing and footwear, the survey found.
Cash put aside for visits to the supermarket has dropped, according to 46 percent of household, with almost four in 10 saying that they now spend less on food bills.