Credit contracts by 1.7 pct in August, loans balance at its lowest since 2007

EconomyMacroeconomy Tags: Banking, BoG, Loans
Photo by MacroPolis
Photo by MacroPolis

Credit contraction in the Greek market slightly accelerated to 1.7 percent in August from 1.6 percent in the previous month, Bank of Greece (BoG) figures displayed on Friday.

As a result, loan balances dropped by 1.4 billion to 199.15 billion, below the 200-billion mark for the first time since July 2007.

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