Bulgaria's non-govt borrowing rises 13.6% y/y in May

The value of non-government loans at the end of May was equivalent to 48% of Bulgaria's gross domestic product (GDP) forecast for 2024, the Bulgarian National Bank (BNB) said in a monthly monetary statistics report.

Loans granted to non-financial corporations climbed by 8.4% year-on-year to some 45.6 billion levs last month, following an annual rise of 8.6% in April.

At the same time, loans granted to financial corporations added 19.5% to 7.88 billion levs in annual terms, decelerating from a 20.9% growth rate recorded in April.

Household loans reached some 41.48 billion levs at the end of May, up by 18.8% on the year. The value of household loans was equivalent to 20.9% of the GDP projected for 2024, the BNB added.

Out of the total household loans, those for house purchases advanced by a yearly 24.4% to 21.8 billion levs, while consumer loans went up by 13.9% to some 17.96 billion levs.

(1 euro = 1.95583 levs)