AN INCREASE IN HOUSING LOAN PAYMENTS IS EXPECTED

03. Jan 2023
Photo: Unsplah / Ricardo Gomez Angel

The General Secretary of the Association of Serbian Banks, Vladimir Vasić, said for RTS that those who have housing loans can expect an increase in monthly payments. For a loan of 50,000 euros taken six years ago, the monthly payment will be about 2,700 dinars more.

According to him, Serbian households save more than 2,000 euros on average, while households owe 1,600 to 1,800 euros on average.

Two years ago, interest rates were negative and there was more money in the wallet; now it's the other way around, Vasić said.

He also said that there is inflation, and one of the ways to stop it is to use a restrictive monetary policy to influence everyone's decisions to borrow more cautiously.

"Those who have housing loans can expect an increase in monthly installments; I sincerely hope that it is not drastic. For a loan of 50,000 euros taken six years ago, the monthly installment is about 2,700 dinars higher, and the Euribor is 2.7; I expect that after six months, there will be a correction, but not so big," explained Vasić.

Vasić adds that 2023 is crucial—inflation should stop in this year. In the USA, after a few months, inflation stopped and went down; in the EU, it stopped after 17 months.

"We expect that to happen in Serbia in the first quarter of this year and that by the end of the year it will be between nine and 11 percent, and that in 2024 we will return to the targeted three percent, plus or minus 1.5 percent," said Vasić, and added that it is good that neither the country nor the citizens are over-indebted.

Speaking of the dinar's exchange rate, he stated that the inflow of foreign direct investments, exports from various industries, and tourism inflows provide a foothold that there is enough foreign currency that there will be no pressure on the dinar, and that is the anchor of the economy—a stable exchange rate, one predictability.

"This is an opportunity to start a new type of economy, and that green economy should be our future. When you come to take a loan, the bank will give instructions on how to be on the green agenda," concluded Vasić.

Source: rs.n1info.com

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