Energy costs are eroding the liquidity of businesses and households. The long wave of the economic crisis caused by the pandemic and, above all, the increase in energy bills are making themselves felt on the savings of companies and citizens with a trend reversal, after almost three years of constant growth, and a reduction of over 50 billion euros of deposits on current accounts. This was reported by Unimpresa which underlines that it is a decrease of 2.4% in just three months: in July, in fact, the amount of household and business reserves deposited in the country’s banks was 2,097 billion, while in October it dropped to 2,047 billion.
Ripple effects on bank funding
The analysis by the Unimpresa Study Center suggests that the sudden outflow could have some repercussions on the collection of credit institutions, which could become more expensive, with negative effects on loans in the future, in particular on the interest rates charged on loans granted to customers . “What we have before our eyes is the photograph of a dramatic situation, which we, unfortunately, had been planning for some time. Strength and liquidity are failing, both for families and for businesses, especially the smaller ones. The costs are unsustainable, the energy bills no longer manageable. That’s why, those who have the opportunity draw on their reserves. We recognize the government for having drafted a budget law that is positive and in a very short time, however we point out the urgency of launching an extraordinary plan of public interventions and support starting in January» comments the president of Unimpresa, Giovanna Ferrara.