Debt for thought: how the Poles are learning to live on credit like everyone else

Personal debt has increased by 3.6% between April and May, reaching the highest level so far this year. However, personal savings grew by just 1% and is the lowest growth rate this year. On a more positive note, the money supply went up by just 1.9% since the beginning of the year, compared to last year's figure of 5.7%. Although the Monetary Policy Council (RPP) remains upbeat about the small increase in money supply, it is disturbed by the rising number of consumer loans. Were the figures to remain unchanged, it would mean interest rates would have to be kept at the current level to rein in the growing deficit. In the past, high interest rates have been an effective deterrent against taking out loans, and consequently personal and company debt was 2% lower this time last year. Analysts believe the rise is connected to the upcoming vacation period and recent compensation payouts, which will put zl 3.5 billion into circulation this year. (Gazeta Wyborcza, page 22) P.S.