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| Households continue increasing their debts |
| Bratislava, 31.05.2017 |
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| But they report relatively small financial savings.
The persisting strong growth of loans to households represents a significant risk to financial stability, particularly in the form of rising household debt and the creation of imbalances in the real estate market.
Since 2010, the share of household debt to GDP has doubled and now exceeds 30 percent, said Vladimír Dvořáček, the executive director of the financial market supervision department at the National Bank of Slovakia (NBS) the country’s central bank.
This, according to him, results in higher vulnerability in the event of adverse developments, the SITA newswire reported.
Household loan growth in Slovakia is the fastest in the EU, said Marek Ličák, head of the macro-level supervision department at the NBS, while at the same time, households report relatively small financial savings. This means imbalances have arisen within the real estate market.
Apartment prices are rising and there is also a decrease in their availability. Also, the trend of selling new buildings only on paper has been observed. The availability of cheap loans is still high, Ličák said, as reported by SITA.
Another risk is that the share of bad debt will start to grow among consumer loans, Dvořáček said.
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Address : Euro-Brew Ltd., Hlboká 22, 917 01 Trnava, Slovakia
Tel. : +421 33 53 418 53, Fax : +421 33 53 418 52, E-mail : info@eurobrew.sk |
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