39% of Jordanians spend their income in the first week of the month —study

(File photo: Ameer Khalifeh/Jordan News)
AMMAN — As the world economy faces historically high levels of inflation, the cost of living is soaring, leaving middle- and low-income individuals struggling to make ends meet. Advanced economies are trying to curb inflation through aid and raising interest rates, but global institutions are expecting a slowdown in the economy and a potential recession. اضافة اعلان

In this climate, a recent study by Erm Business shed light on the impact of the inflation wave on salaries in 13 Arab countries.

Jordanians struggleThe study conducted by Erm Business involved 1,170 participants from various classes in 13 Arab countries. The results revealed that 39 percent of Jordanians spend their income within the first week, with 48 percent supporting between three and five individuals.

Meanwhile, citizens of seven Arab countries, including Lebanon, Iraq, Egypt, Tunisia, Morocco, Algeria, and Jordan, are struggling with their finances running dry before the end of the month, with the majority of them running out of money before the end of the third week.

Rent, water costs top expensesParticipants from Jordan, Kuwait, the UAE, Saudi Arabia, and Qatar cited rent costs as their biggest expense. Additionally, the study revealed that water was the third-highest monthly expense after food and housing for participants from Jordan, Algeria, Egypt, Morocco, and Iraq.

The study also asked participants if their monthly salaries were sufficient, where they spent their money, and whether they could save. The results revealed that citizens across the region struggling to make ends meet.

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