Serbians have "lowest consumer debt in Europe"

General Secretary of the Association of Serbian Banks Veroljub Dugalić says Serbians are the least indebted not only in the region, but in all of Europe.

Izvor: Tanjug

Tuesday, 31.05.2011.

14:16

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General Secretary of the Association of Serbian Banks Veroljub Dugalic says Serbians are the least indebted not only in the region, but in all of Europe. According to Dugalic, the total debt per capita amounts to EUR 780, EUR 700 of which goes for loans, EUR 26 for credit cards, and EUR 50 for lease payments. Serbians have "lowest consumer debt in Europe" He noted that there has been a rise in indebtedness, when compared to the figures in December 2010, when the total debt equaled EUR 750. Dugalic said that the Serbian banking system has achieved a moderate growth in the debt-to-assets-ratio, but that the rise is moderate due to a drop in offer in the local and foreign markets, bad results of economy, high inflation and the increase in the exchange rate. For that reason, the National Bank of Serbia was forced to implement stricter measures of monetary policy which resulted in the increase of interest rates, Dugalic noted at the annual meeting and technical seminar of the European Forum of Deposit Insurers (EFDI), which is being held at Belgrade's hotel Hyatt.

Serbians have "lowest consumer debt in Europe"

He noted that there has been a rise in indebtedness, when compared to the figures in December 2010, when the total debt equaled EUR 750.

Dugalić said that the Serbian banking system has achieved a moderate growth in the debt-to-assets-ratio, but that the rise is moderate due to a drop in offer in the local and foreign markets, bad results of economy, high inflation and the increase in the exchange rate.

For that reason, the National Bank of Serbia was forced to implement stricter measures of monetary policy which resulted in the increase of interest rates, Dugalić noted at the annual meeting and technical seminar of the European Forum of Deposit Insurers (EFDI), which is being held at Belgrade's hotel Hyatt.

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