ding a small amount for
housing.

A very small, though increasing, volume of consumer loans for the
purchase of durable goods and clothing has been granted by the State
Savings Bank. The volume of such loans--36.5 million leva in 1966, 48.2
million leva in 1967, and 45.4 million leva in 1968--was equivalent to
slightly more than 1 percent of retail sales in the commercial trade
network. The outstanding balances of consumer loans at the end of the
year rose from 49.1 million leva in 1968 to 102.1 million leva in 1971.
Consumer loans may not exceed the sum of 500 leva and may be used only
for the purchase of designated goods. In 1969 the authorized list
included twenty-three categories. A sample survey in 1969 indicated that
about two-thirds of the loan volume was used to acquire television sets,
furniture, and motorcycles; another 20 percent was spent on radios,
sewing machines, and scooters.

Apart from consumer loans, the State Savings Bank grants small loans to
licensed private craftsmen for working capital and to collective and
state farmworkers and other qualified applicants for the purchase of
productive livestock, seeds, fertilizers, small tools, and other farm
perquisites. The bank also makes loans for adapting premises to the
needs of tourism; for current building repairs; and for meeting personal
emergencies, including loans to newlyweds for the acquisition of
furnishings. Depending upon the purpose of the loans, loan ceilings
range from 150 to 800 leva, and maturities extend from ten months to
eight years.

The volume of consumer loans was reported to have reached 116 million
leva in 1972. Under the economic plan for 1973, the State Savings Bank
was scheduled to make loans to individuals for the purchase of consumer
goods and other needs in the amount of 203 million leva and for home
construction in the amount of 180 million leva. The bank was also
expected to lend 141 million leva to people's councils.

Loan funds of the State Savings Bank have been derived from personal
savings deposits and, presumably, from interest payments. The bank also
conducts state lotteries for the benefit of the state budget. There is
no evidence as to whether the bank retains a portion of the lottery
proceeds for its own operations. Savings deposits increased almost
fivefold in the 1960-71 period to a level of about 3.6 billion leva--a
sum equivalent to 64 percent of total retail sales or 150 percent of
food sales through comm