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Czech Republic: SME Suffer from Credit Crunch
Politics ♦
Published: August 24, 2013; 19:18 ♦ (Vindobona)
The recession in the Czech Republic is mainly due to the restrictive lending policy of the domestic banking sector.
Czech Republic: SME Suffer from Credit Crunch / Picture: © Vindobona.org
According to a survey issued by the Czech National Bank, banks tightened their credit standards in all the monitored credit market segments in 2013 Q2. More than 50% of the Czech companies say that banks are pursuing a more restrictive lending policy. As a result, Czech companies are not able to invest in new production facilities. Only 20% of the interviewees are willing…
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