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World Bank: Losses caused by non-performative credits could reach 9% of GDP

The losses caused by non-performative credits could reach in Romania 43 billion lei, namely 9% of GDP, a report of the World Bank shows.

The analysts of the international institution show that the losses caused by non-performative credits in the ten former communist member states of the EU could be substantial, but they are manageable.

These losses vary from 9% of GDP in the case of Romania to 21% in the case of Estonia. The World Bank estimates that losses of the non-per formative loans could reach 11% of the GDP ( 140 billion zloty) in Poland, 12% in the Czech Republic and 15% in Hungary. The representatives of the World Bank mention that these prognoses were made on the basis of levels recorded in other emerging countries during the crisis period in the past.

However, the World Bank appreciates that the presented scenario could become more optimist depending on the rhythm of coming back of the markets. The analysts show that prices of houses in several states in the region did not drop so much and the banks decided not to sell their assets which guaranteed the mortgage credits not to worsen the conditions on the real estate market. In the scenario where the rate of credit recovery is 75%, the losses caused by non-performative credits would vary between 6% and 16% of GDP.

The World Bank mentions that at present the non-performative credits in the ten former communist countries of the EU are smaller than the ones recorded in the case of other financial crises in the past. Thus, the share of such credits went up to 32% in Indonesia, 35% in Korea and 30% in Malay while the crisis in Eastern Asia, while in the case of the crisis at the end of the 90's and the beginning of 2000, the share of non-performative credits was 40% in Russia and 36% in Uruguay.

Sursa: http://www.actmedia.eu

Tags: could reach credits performative losses caused world

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