One in Four Latvians Report Worsening Financial Situation, Survey Shows
A Citadele bank survey found that 25% of Latvian residents experienced a worsening financial situation over the past three months, though Latvians remain the most confident in the Baltics about managing their budgets going forward.
A survey conducted by Citadele bank together with research agency Norstat shows that Latvian residents are the most confident in the Baltic region about their personal financial stability, even though the past few months have brought difficulties for part of the population.
The survey found that 60% of Latvians reported no change in their financial situation over the last three months. Meanwhile, 16% of respondents said their situation improved, while a quarter, or 25%, said it worsened — mostly slightly, though 7% reported a significant decline.
Differences across the Baltics
Compared to its neighbors, Lithuania shows the most positive results, with 20% of residents reporting improvement and 19% reporting decline. Estonia presents a more difficult picture — 33% of its residents reported worsening finances, the highest share in the region, while 17% reported improvement.
Outlook for the future
Despite recent difficulties, Latvians are the most optimistic in the Baltics about the future: 66% feel confident in their ability to manage their budget over the next three months, including 16% who feel very confident. A neutral stance is held by 22%, while 12% feel unsure. However, a closer look shows that one in three Latvians still lacks confidence about their financial future.
By comparison, 60% of Lithuanians feel confident about managing their finances in the coming months, while in Estonia the figure is only 58% — the lowest in the Baltics.
Overall, the survey indicates that financial sentiment across the Baltic states is broadly similar, without major differences between countries. While most residents are able to adapt to economic challenges, a significant share — between 34% and 42%, depending on the country — do not feel fully financially secure or rate their situation as neutral. As one way to improve the situation, experts point to building savings deliberately by regularly setting aside part of monthly disposable income.
The survey was conducted by Citadele bank together with Norstat in July 2026, polling more than 1,000 residents aged 18 to 74 online in each Baltic country.
