A deep economic recession in the country kept the credit market under pressure in the first four months of the year, with the value of bouncing checks totaling 655.3 million euros, of which 137.7 million euros in April (down 15.59 pct compared with March), official figures showed on Monday. A report by Teiresias SA, credit market’s watchdog, said the volume of bouncing checks totaled 14,482 in April, down 8.41 pct compared with March, while on an annual basis, the value and volume of bouncing checks was down 7.87 pct and 0.76 pct, respectively.

The value of unpaid bills totaled 80.6 million euros in the January-April period, while volume totaled 50,182.