Foreign currency loans triple

The value of medium and long-term loans taken out by individuals grew significantly in August, by 13.4% and 8.8% respectively (calculated in ROL), three times the volume in August 2003. After strong growth in loans in foreign currency in July and August, population exposure to foreign currency now exceeds one billion euros for the first time. Total medium term foreign currency loans (one to three years) taken out by individuals amounted to 13,033bn ROL (317.9 million euros) at the end of August, 3.5 times more than a year ago. The pace of growth slowed compared with July, however, which saw growth of 23%.

Long-term foreign currency loans (over three years) reached 26,943bn ROL (657.1 million euros) at the end of August, 2.8 times more than last year. ZF