5 Countries with the Lowest Saving Rates in Europe

3. Cyprus

Gross savings (% of GDP) (2022): 13.48%

Real GDP Growth Rate (2024): 2.7%

Cyprus is one of the 15 countries with the lowest saving rates in Europe. The country is experiencing lower saving rates due to the conflict in the Middle East, and its gross savings as a percentage of GDP was 13.48% in 2022. Moreover, the country’s GDP is growing at 2.7% in 2024.