TITLE

Credit Boom Or Bust?

PUB. DATE
August 2005
SOURCE
Emerging Europe Monitor: Central Europe & Baltic States;Aug2005, Vol. 12 Issue 8, p12
SOURCE TYPE
Country Report
DOC. TYPE
Country Report
ABSTRACT
The article reports that the strong growth of domestic demand over the past few years in Lithuania has been stimulated by a rapid increase in bank lending to the non-financial private sector. While credit growth appears to have peaked in mid-2004 at almost 70% on an annual basis, it remained very high at 40% in Q1,05. Meanwhile, lending to individuals continues to soar, up 94% year-on-year (y-o-y) in Q1,05, with loans denominated in foreign currencies (mainly euros) increasing by a staggering 160%, albeit from a low base. The pace of loan growth has even prompted economists at the European Commission to ask whether Lithuania is at risk of an unsustainable credit boom.
ACCESSION #
17619799

 

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