Danes have more money than before the COVID-19 pandemic

Strong performance of financial markets has offset introduction of restrictions, according to National Bank

Dec 28, 2020

According to a new report from the National Bank, the Danes have amassed more wealth than they had before the Coronavirus Crisis started.

The report (here in English) showed that the financial net wealth of Danish households increased by 362 billion kroner in the third quarter and thereby reached kr. 5,657 billion in total.

The report also found that because many Danes have financial assets linked to shares or bonds, the development of financial markets is paramount to their net wealth.

Good times set to continue
The National Bank predicted that the positive trend will continue in the fourth quarter of 2020.

“The upward trend in the financial markets continued into the fourth quarter despite rising infection rates and the introduction of new restrictions,” the report found.

“At the same time, the possibility of withdrawing frozen holiday pay has led to kr. 52 billion before taxes being paid out since October, which helped raise bank deposits over 1 trillion.”

Read the entire report here.

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Danes have more money than before the COVID-19 pandemic

New US Arctic security strategy co-opts Denmark as Russia deterrent

Anti-whaling activist and Greenpeace co-founder Paul Watson arrested in Greenland

Migratory birds bring dangerous ticks to Denmark

Planes grounded in CPH as worldwide IT outage hits airlines, media and banks

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Foreign labour contributes DKK 76 billion to Danish economy in three months

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