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Bulgarians Prefer Local Currency Deposits
Business | September 4, 2003, Thursday // 00:00
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A total of 9,7 billion lev deposits have been placed by the end of the first half of the year in Bulgaria, data of the central bank show as of July 30. Lev deposits prevail over foreign currency savings, which stand at 1.2 billion in number. The preference of local currency is due to the higher interest rates and the unstable dollar rate, experts comment.
Central bank figures show that households, private and state-owned financial enterprises have made the biggest number of savings. The deposits of the government stand at BGN 433 M.
The credits extended in foreign currency amount to BGN 6,541 B against BGN 4,735 M in levs. Most of the credits (BGN 2,11 B) are extended for a period of up to five years.
Central bank figures show that households, private and state-owned financial enterprises have made the biggest number of savings. The deposits of the government stand at BGN 433 M.
The credits extended in foreign currency amount to BGN 6,541 B against BGN 4,735 M in levs. Most of the credits (BGN 2,11 B) are extended for a period of up to five years.
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