Financial and business news from Bulgaria

In the crisis 2020 the Bulgarian draws loans for...

We have borrowed more loans in the crisis year 2020. Compared to the previous year, Bulgarians took 12% more mortgage loans and 5% more consumer loans, BNT informed.
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December turns out to be a record for lending in Bulgaria, but this is due to the loans that people draw for real estate. In terms of consumer loans - there is an increase, but it is less compared to previous years.

In consumer loans, money is most honestly intended for home repairs, purchase of new furniture, improvement of living conditions. And almost never for luxury goods.

The crisis caused by COVID-19 also affected the gift budget. For some, they remained symbolic.

According to analysts, in 2020 people relied on credit only for really important and necessary things.

"If we look in detail, we will see that people engaged in tourism, restaurant, tourism, hotels, they reduced and almost stopped the demand for credit. The market moves from those sectors that were not affected by the crisis - IT sector, pharmacy, energy and others”, commented credit consultant Tihomir Toshev.

Interesting trends are also observed in the size of the chalk we draw. “In the case of consumer loans the average amount is maintained, it continues to be around 10 thousand leva, while in mortgage loans it increases and on average for the country we draw about 110 thousand leva mortgage loans”, added Toshev.

Although for most people the budget for gifts this year is tight, luxury goods continue to have their admirers.

And for others, gifts cannot be measured by money.

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