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Each Portuguese family loses over 1,000 USD on average due to COVID-19: study

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Each Portuguese family has lost 944 euros (1,031 U.S. dollars) on average since the outbreak of COVID-19 in the country, according to a study released on Friday.

“Since the beginning of the pandemic in Portugal from March until mid-May, the loss of income was widespread in 70 percent of households,” the Portuguese Association for Consumer Protection (DECO) said in a statement, according to the Lusa News Agency.

The study was carried out between May 14-15 with an online questionnaire to “a representative sample of the Portuguese population” aged between 18 and 74 years old, with 1,002 responses obtained.

According to the study, at the center of the financial loss is the decrease of professional income between mid-March and May, which ranged between 581 and 1,126 euros (roughly 634 to 1,229 dollars).

The self-employed were the most affected, with the majority continuing to work, but with less income, it added.

In addition, the financial damage recorded in the period was also due to the cancellation of trips, cultural and sports events, losses in real estate rents and in investments in financial products, according to the study.

“Savings, as a consequence, are being greatly affected,” it said, adding “in one third of the cases, savings have already been used to meet daily expenses and another third of families anticipate the need to do so.”

Given the adverse circumstances, one in four families was forced to ask for financial assistance, the study found.

(XINHUA)

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