Results of a recent survey show that Latvian population indicated that one household member needs at least EUR 483 monthly to live. Last year to pay for usual necessary expenses of one household member households needed EUR 31 or 6.7 % more financial means than in 2014.
Nevertheless, even though household disposable income has grown sharply during the last several years, the amount still is too small to make ends meet. In 2014, Latvian population pointed out that one household member needed at least EU 452 monthly, while disposable income per household member were by 14 % lower and reached only EUR 387 monthly. Data on income in 2015 will be compiled in a similar survey this year, according to results of EU Statistics on Income and Living Conditions carried out by the Central Statistical Bureau of Latvia.
The survey data shows that, in 2015 population assessment of ability to make ends meet (i.e., pay for usual necessary expenses) has improved. The share of households paying for usual necessary expenses with great difficulty has reduced from 27.0 % in 2013 to 16.9 % in 2015. Last year, 17.1 % of households have admitted that pay for usual daily expenses fairly easily (5.7 percentage points more than in 2013).
The greatest difficulty to pay for usual necessary expenses was faced by single old persons (aged over 65), households consisting of one adult with children, as well as by couples with three and more children.
Compared to 2014, in 2015 notably higher number of couples with children mentioned that pay for usual necessary expenses easily or very easily. In 2015, 9.4 % of households, in which couple has one child, indicated that pay for usual necessary expenses easily or very easily, while in 2014 the share of such households constituted 5.5 %. Payment for usual necessary expenses was made easily or very easily by 10.2% of households consisting of couples with two children (in 2014 – 4.4 %), and by 9.8 % of households, in which there are couples with three and more children (in 2014 – 2.6 %).
In 2015, poorest households (1st quintile group) indicated that, they would need EUR 339 per household member monthly to pay for usual necessary expenses. 68.3 % of these households paid for usual necessary expenses with difficulty or great difficulty, and only 1.4 % – easily or very easily. In richest households (5th quintile group) the amount needed to pay for usual necessary expenses was notably higher – EUR 718 per household member monthly. Only 16.8 % of the richest households pointed out that pay for usual necessary expenses with difficulty or great difficulty, whereas 15.3 % – easily or very easily. Remarkably that, the amount needed to pay for usual necessary expenses in the poorest households rose by 6.6 % during the year, while in the richest households – by 9.1 %.