Bulgaria saw overdue leasing payments rise by 14.3 percent in
2009’s final quarter, from €350 million in Q3 to €402 million in
Q4.

Year-on-year, fourth quarter late payments were up an
astonishing 314 percent.

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This compares to a Q4 new business total of just €122 million,
13 percent higher than the previous quarter but 74 percent down
year-on-year.

Currently, Bulgarian lessors have a combined lease portfolio of
€2.54 billion, a total that shrank by 14.6 percent over the course
of 2009.

According to the Bulgarian National Bank, defaults now make up
some 15.8 percent of this total, compared to 1.6 percent at the end
of 2008.

Fred Crawley

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