Household Deposits in Bulgaria are Rising
At the end of March 2019, the deposits of the non-government sector amounted to BGN 79.096 billion, the Bulgarian National Bank (BNB) reported. This is 68.4% of the Gross Domestic Product (GDP) for 2019, which the BNB expects to be 115.646 billion levs.
Deposits of non-financial enterprises amounted to BGN 23.365 billion (20.2% of GDP) at the end of March 2019. Compared to the same month of 2018, they increased by 7.8%. Deposits of financial corporations increased by 26.8% on an annual basis in March to BGN 3.363 billion (2.9% of GDP).
Deposits of households and non-profit organizations serving households amounted to BGN 52.368 billion (45.35% of GDP) at the end of March 2019. They increased by 8.9% compared to the same month of 2018.
At the end of March 2019 loans to the non-government sector amounted to BGN 58.062 billion (50.2% of GDP) and increased by 7.8% on an annual basis. Loans to non-financial corporations increased by 5.3% on an annual basis in March 2019 and amounted to BGN 33.117 billion (28.6% of GDP) at the end of the month. Household loans and non-profit organizations serving households amounted to BGN 22.168 billion (19.2% of GDP) at the end of March 2019. They increased by 11% in the same month in 2018, according to the BNB.
At the end of March 2019, housing loans amounted to BGN 10.763 billion and increased on an annual basis by 11.5%. Consumer loans amounted to BGN 9.334 billion and increased by 17.9% compared to March 2018. On an annual basis, other loans decreased by 33.2% to BGN 741.5 million.
The loans granted to financial corporations amounted to BGN 2.777 billion (2.4% of GDP) at the end of March 2019. They increased by 14.7% compared to March 2018, according to BNB data.
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