You have 3 free articles left this month. Get your free Basic subscription now and gain instant access to more.

Bulgaria's rate of non-govt borrowing accelerates in Aug

Bulgaria's rate of non-govt borrowing accelerates in Aug License: CC0 Creative Commons

SOFIA (Bulgaria), September 23 (SeeNews) - Loans to Bulgaria's non-government sector increased by 13.9% year-on-year at the end of August, reaching 77.8 billion levs ($38.8 billion/39.8 billion euro), following an annual rise of 13% in July, the country's central bank said on Friday.

The value of non-government loans at the end of August was equivalent to 50.4% of Bulgaria's gross domestic product (GDP) forecast for 2022, the Bulgarian National Bank (BNB) said in its latest monthly monetary statistics report.

Loans to non-financial corporations amounted to 40.1 billion levs, adding 12.1% on the year after rising by 11% in July.

At roughly 32 billion levs, loans to households were 15.1% more at the end of the eighth month of this year than at the same time in 2021 and represented 20.7% of the estimated 2022 GDP.

As for loans granted to financial corporations, those jumped by an annual 20.7% reaching some 5.75 billion levs, after an annual rise of 17.7% in July, BNB said.

(1 euro = 1.95583 levs)