Czech households’ debt increases eight times since 2000

The debts of Czech households with banks have increased eight times since the year 2000, and now amount to more than 973 billion crowns, or over 52 billion US dollars, according to figures released by the Czech Statistical Office on Friday. Analysts believe that the situation is not dramatic as around 70 percent of the debts are mortgages. However, the fastest growing types of loans are those used to pay for mobile phones, education and health care. The relative rate of Czech household indebtedness is at about 53 percent of eurozone levels.