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Poles love consumer credit: report

English.news.cn   2014-07-24 07:16:49

WARSAW, July 23 (Xinhua) -- Poland is 6th in the European Union (EU) as regards the average consumer-credit-to-GDP ratio, which is at a level of 8.1 percent, according to PwC data published by the Rzeczpospolita daily on Wednesday.

However, if nominal credit per capita is taken into account, Poland is in 18th place in Europe, with a 817-euro (1,103 U.S. dollars) loan on average.

Poland's consumer credit market grew very quickly up to the end of 2009 when the consumer-credit-to-GDP ratio reached 10 percent, according to Krzysztof Marszalek of PwC.

In 2010 the growth started to slow down and Poland dropped back to 8 percent, Marszalek said, adding that the consumer-credit-to-GDP ratio was unlikely to grow now and in the coming five years should even fall to around 7.5 percent.

Editor: Yang Yi
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