Moratorium Accepted by Most Citizens and Enterprises

Category: News 10 April 2020

The possibility of temporarily suspending the repayment of liabilities to banks has attracted great interest among people in Serbia, and the same applies to the economy. The moratorium was accepted by 94% of citizens who have obligations towards banks, while fewer than 6% explicitly asked to continue their repayment, announced the Association of Serbian Banks today.

"Companies reacted very similarly. As many as 92.9% of companies opted for the moratorium, and 7.1% stated that they still want to pay their obligations. The companies that have decided to pay their obligations to banks are invariably larger companies, so they account for about 30% of the total credit indebtedness of the economy,” said Mr Vladimir Vasić, ASB Secretary General.

The presented data are aggregate, i.e. at the level of the entire banking sector. When observing the banks individually, the percentages vary, but not to a greater extent. It can certainly be concluded that the vast majority of banking service users have decided to accept the moratorium.

“These statistics show that people wanted to be cautious and felt it safer to opt for a moratorium immediately, rather than to wait for the situation to develop further. This is not to say that they have encountered difficulties in repaying their obligations to the banks, but that they have acted with the intention of preventing any risk. Considering the wage policy in the state and public services, and with the assistance measures for entrepreneurs, small and medium-sized enterprises, we have reason to be optimistic and believe that solvency will not be seriously jeopardised,” Vasić added.

The total amount covered by the moratorium is around € 2 billion, which is the support of the banking sector to citizens and the economy, to overcome the harsh conditions of daily life and business that are triggered by the COVID-19 epidemic.

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