Czech households’ debt reaches new high

Czech households’ debt with banks and financial institutions rose by 4.2 billion crowns in June compared to the previous month, and reached one trillion and 133 billion crowns, or over 55 billion US dollars, according to the latest figures by the Czech National Bank released on Tuesday. The debt increased by 53 billion crowns year-on-year. The bulk of the debt consists of relatively safe housing credits and loans. Analysts say that compared with western European countries, the debt levels in the Czech Republic are still relatively low.

Author: Jan Richter