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Bulgarians are cagey about bank loans, a recent poll shows, file photo
Over 58% of all Bulgarians would never take a bank loan regardless of its terms, according to a recent study.
The poll has been conducted by the Institute for Economic Research at the Bulgarian Academy of Sciences (BAS) among 1 000 Bulgarians of voting age between August 1 and September 10, 2013.
Up to 75% of the respondents have said bank interest ratees and fees are too high, while 84% state at the same time that they can no longer slate money for savings.
The share of default loans of Bulgarian households is 19-20% in 2013, compared to just 5-6% in 2009.
30% of the "bad loans" are in Sofia and 42% - in regional cities.
The overall trend is for Bulgarians to delay consumer expenses; try to save as much as they can; repay old debt, and steer away from new loans, which makes bank crediting a shrinking factor for economic growth, according to experts.
A recent survey by the "Myara" agency reveals that a majority of Bulgarians support the idea of holding a referendum on adopting the euro
A significant portion of Bulgarians' savings is already held in euros, signaling the country's readiness for the currency switch, even before its official adoption
Six Bulgarians, part of a spy ring known as the “Minions,” are facing prison sentences of up to 14 years in the United Kingdom for espionage activities conducted on behalf of Russi
Nearly half of Bulgarians now shop online, with 45.2% of those aged 16–74 having bought goods or services via the internet in the past year
A quarter of household savings in Bulgaria are now held in euros
According to recent data from the Trend Research Center, shared during the "Personal Finance" event by Money.bg, 38% of Bulgarians are unable to set aside any savings
According to the latest data from the Bulgarian National Bank (BNB), the number of individuals in Bulgaria holding bank deposits of over 1 million BGN continues to rise steadily—at an average rate of one new millionaire depositor per day.
According to data published on the Bulgarian National Bank’s (BNB) official website, household lending surged by 20.
The Bulgarian National Bank (BNB) has released another set of practical guidelines regarding the transition to the euro once the country joins the eurozone
A significant portion of Bulgarians' savings is already held in euros, signaling the country's readiness for the currency switch, even before its official adoption
Inflation in Bulgaria is projected to rise ahead of the country’s euro adoption
The Bulgarian National Bank (BNB) has announced that it will stop publishing the key interest rate following the country's adoption of the euro
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