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Slovaks least indebted eurozone citizens

SLOVAKS are the least indebted people in the eurozone, with the average debt per Slovak household representing 43 percent of disposable income.

SLOVAKS are the least indebted people in the eurozone, with the average debt per Slovak household representing 43 percent of disposable income.

This, among other things, explains consumer credit growing in double digits, VÚB Bank spokesperson Alena Walterová told the TASR newswire.

While consumer lending in most eurozone countries has stagnated or is declining, the volume of consumer loans in Slovakia is up by almost 13 percent this year – the highest among the eurozone countries.

Several factors have affected the recent growth in loans, according to VÚB Bank chief financial analyst Zdenko Štefanides. These include the relatively small size of the Slovak credit market, economic growth that remains among the highest in the eurozone, as well as the decreasing fear of losing jobs – despite the relatively high level of unemployment, he told TASR.

Source: TASR

Compiled by Michaela Terenzani from press reports
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