Household Finance and Consumption Survey 2020 in Latvia: Summary Report

Abstract

This paper presents results from the fourth wave of the Eurosystem Household Finance and Consumption Survey (HFCS) for Latvia conducted in 2020. The paper focuses on the net wealth components of the household balance sheet – real assets, financial assets and liabili- ties. The report includes three special boxes – on precautionary savings, on potential change in household balance sheet due to rising interest rates and expenditures, and on the effect of Covid-19 pandemic. A detailed description of the use of administrative data in the HFCS database construction is provided in the Appendix.

Keywords: household finance and consumption survey, Latvia, assets, liabilities, net wealth, financial vulnerability, income, consumption

JEL Codes: D14, D31, E21