Dutch save in non-sparing fashion

In the first four months of 2001 Dutch households saved about 17.5 billion guilders, or 7.94 billion euro. This is twice as much as in the year 2000 as a whole. On 30 April 2001 the savings balance on savings accounts stood at almost 315 billion guilders (almost 143 billion euro).

In January the savings increased by 7.4 billion guilders (3.4 billion euro). This is because many people switched their investment accounts to savings accounts because of the new tax system.

In February, March and April people also saved more. The February savings amounted to 2.9 billion guilders (1.3 billion euro), in March to 3.5 billion guilders (1.6 billion euro). In April savings were up to 3.7 billion guilders (1.7 billion euro). Total savings for the year 2000 as a whole were 8.6 billion guilders or 3.9 billion euro.

One reason for the huge increase in savings is the uncertainty about developments on the stock market. This favours savings accounts.

Savings balance on savings accounts

Jan Ramaker