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Selected Macro Data - weekly update
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Selected Macro Data - weekly update
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Household financial wealth in Q2 2009
The net financial wealth represents the financial assets of the population, reduced with debt to banks (excluding housing credit) and leasing companies. The net financial wealth contracted by 7% in Q2 2009, but the rate of decline slowed down following the smaller propensity of households to take on new debt. The share of house... -
Two years of global crisis: the Bulgarian economy in 2009
• The onset of the financial crisis in 2007 coincided with a period of rapid economic growth in Bulgaria, driven primarily by investment activity. It is difficult to differentiate how much exactly the dynamics of the Bulgarian economy has been a a result of fundamental factors, related to increasing productivity and the improvem... -
Latest housing market trends
The ongoing cooling of the local housing market seems expected considering the stagnation of income growth, the deceleration of the credit expansion in the mortgage segment, the slowdown of the inflow of foreign direct investment and cash transfers from abroad. One of the key factors for the reestablishment of market growth, par... -
Selected Macro Data - Weekly Update
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Selected Macro Data - Weekly Update
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The evolution of household lending
Furthermore, interest rates on consumer loans tend to be higher than mortgage loans’ and since mid-2007 the spread between the two expanded, as the sequence of events of the current financial crisis unfolded. Consumer loans are usually considered to be more risky since they often do not have any collateral as opposed to mortgage...