Czech households are already paying $ 1,599 trillion

The indebtedness of Czech households in banks and credit unions rose in June by around ten billion krones to 1,599 trillion. The debt on an annual basis grew by about $ 111 billion. This is shown by the data published by the Czech National Bank (CNB). Indeed, in July the company's debt grew by more than 12 billion to 1,094 trillion crowns. Compared to July last year, corporate debts grew by more than 42 billion kroner.

The debt burden of household households has risen steadily since February 2016. Since then they have grown by more than a quarter of a trillion kroner. About three-quarters of the total amount of money households, according to the CNB, owe to home loans, mainly mortgages. In July the volume of residential mortgages and consumer credit increased compared to the previous month.

The indebtedness of companies fluctuates more often than in recent years with the development of the indebtedness of households. From September to January of this year, for example, corporate debt declined steadily on a monthly basis. Month-to-month decline was recorded in companies' debts in March, but they are rising again since April.

The central bank publishes statistics every month. It is derived from MFI balance sheets, which, in addition to the central bank, commercial banks and branches of foreign banks in the Czech Republic, comprise money market funds, credit and savings banks.