Swedes’ debts get bigger

Swedish households are increasingly in debt. Figures released today for

the final quarter of last year show householders’ debts increased by more than 43 billion kronor.

The figure is an increase of 11 billion kronor compared to the previous quarter, according to Statistics Sweden.

Household debts increased in total by 136 billion kronor for 2004, a rise of 10 billion compared to 2003. The biggest rise is in mortgages.

The total figure for household debt for 2004 was 1,623 billion kronor compared to 1,483 billion kronor in 2003. 950 billion is owed in mortgages, whilst banks are owed 315 billion and CSN -the student loan company- 170 billion kronor.