Default Loans in Bulgaria Reach BGN 10 B

By the end of July 2013, Bulgarians had BGN 36 B in saving accounts, file photo

The number of default loans in Bulgaria has reached BGN 9.9 B, after an increase of BGN 43 M in July only.

The data was released by the Central Bank - the Bulgarian National Bank, BNB, cited by Pressa (Press) daily.

The main portion of the increase is attributed to business loans – BGN 33 M, while consumers continue the trend of refraining from taking new debt and have increased their deposits in saving accounts.

By the end of July 2013, these accounts amounted to BGN 35.7 B, which is an increase of BGN 155 M, compared to June.

Consumer loans in the same month have reached BGN 18.6 B – up BGN 29 M compared to June and down 0.5%, compared to July 2012.

However, business loans now amount to BGN 35 B, which is an annual increase of BGN 63 M.

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