From Today: Bulgaria Implements New Train Ticket Prices with Average Increase of 20%
Commuters and travelers in Bulgaria are bracing for a hike in train ticket prices, as the national rail carrier rolls out revised fares starting today
The Bulgarian National Bank (BNB) has estimated that up until the end of February 2009, the number of unpaid credit installments soared 116,8 % year on year.
According to the BNB, producers have the greatest share in that figure as they owe BGN 1,65 B. The average monthly rise was 23,44 % or BGN 314 M. Thus, end-February, the share of bad credits reached 3,41 % of the entire credit volume, increasing from1,99 % a year earlier.
Firms' bad credits are increasing the fastest. By the end of February they had swollen by 152 % to BGN 918 M. February alone saw a 33,1 % expansion of the bad debt volume, or BGN 228 M in unpaid installments.
Bad household loans are on the rise as well, having surged by 84,26 percent or BGN 726 M in a year. Their February growth was13,2 % or BGN 86 M. The bad household mortgages also went up by 94,46 % to BGN 251 M year on year. The bad consumer debt grew, too, but less: by 75,55 percent to BGN 422 M.
The deterioration of banks' credit portfolios began in December, 2008. In November, the bad debt growth was only 0,44 %, followed by 9,64 % in December, 13,51% in January and 23,44 % last month, BGNES reported Thursday.
In total, the debt burden on Bulgarian businesses and the general population is BGN 46,56 B, which means it has grown by 27 % growth in a year, or 0,05 % growth on a monthly basis.
Household debt decreased by 0,15 % to BGN 18,03 B in February, but rose by 23,67 % year on year. The debt of companies went up 0,16 percent in February to BGN 30,53 B.
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