The number of individuals in Romania who were late on paying their debt to banks and other financial institutions reached the highest level in the last two years, in August.

Almost 720,000 Romanians were more than 30 days late in paying their monthly installments, according to the Romanian National Bank. A higher number was recorded in June 2013, when the number of bad debtors exceeded 740,000, reports local Agerpres.

Since the beginning of the year, the number of people with overdue payments rose by 1.1%, or with over 8,000.

Most of the overdue debts were in euro, namely over EUR 1.1 billion, whereas the debt in Romanian currency lei amounted to almost EUR 1 billion. Including the debt in other foreign currencies, the total debt exceeded EUR 2.5 billion. Of this total amount, some EUR 1.8 billion represented debt older than 90 days.

editor@romania-insider.com