Montenegrins indebted by over two billion euros

(Patria) - The indebtedness of citizens of Montenegro as of August 31 reached two billion and twenty-four million euros, according to data from the Central Bank of Montenegro (CBCG).

The largest part of the debt, as much as 43 percent, refers to cash non-purpose loans, while housing and renovation loans account for 33 percent of the total loans of individuals.

Commercial banks confirmed to RTNK the increased interest of citizens in both new and refinancing loans with larger amounts.

Economic analysts say that such a situation can pose a long-term problem.

CBCG data, according to Jelena Obradović, indicate a continuous growth in the indebtedness of citizens of Montenegro over the past three years.

In August 2021, the debt amounted to one billion and 524 million, a year later six million more, in 2023 it increased by 34 million, reaching a record amount of two billion and 24 million in just one year. In August alone, Montenegrins borrowed 20 million euros.