Romania’s non-government credit to reach 34.3% of GDP

Non-government credit stood at 27 percent of GDP last year. Of the total loans granted in 2006 some 15.5 percent were given to non-financial companies while 11.5 percent were given to the population.

Some 12.8 percent of the credits was in foreign currencies while 14.2 percent were in lei, according to Georgescu. The official noted the number of lei credits increased in the last three years, from 6.4 percent of GDP in 2004 to 14.2 percent in 2006.

Georgescu noted the increase seen in the credit market was backed by higher revenues and a larger lending potential, which confirms the durability Romania’s economic increase over the last seven years.