90  percent  70 75  60 50  60  40  54  69  72  51  45  30  65  61  57  48 47  65  64  60  44  20 30  *) other than those to the banking sector  15  total general government  suppliers other creditors  *) other than those to the banking sector Source: MPF, NBR 25  2016  2015  2014  2013  2012  2011  0 2010  2016  Private companies  other creditors general government suppliers; for more than 1 year suppliers; between 90 days and 1 year suppliers; between 30 and 90 days  Source: MPF, NBR  2015  2009  State-owned companies  2014  2008  2016  2007  2015  2006  2014  2005  0  2004  10  Figure 35. Annual dynamics of residential property prices 15  percent; 2010=100  Figure 36.
It was deemed necessary to be emphasised as a distinct risk that is on the rise on account of three reasons which make it more dangerous today than previously: (i) the reduction in the vulnerabilities in banks’ balance sheets (through the clean-up of the non-performing loan portfolio) does not translate into a corresponding decrease in the vulnerabilities in firms’ balance sheets, which reveals the persistence of structural issues economy-wide; (ii) the vulnerabilities in firms’ balance sheets have persisted even in an environment of above-potential economic growth; and (iii) after the conclusion of the arrangement with the International Monetary Fund and the European Union, part of the reforms carried out during the period covered by the agreement with regard to strengthening payment discipline in the economy (cutting arrears, in particular) were reversed. 7  In fact, the reversal of structural reforms seems to have started shortly after the completion of the arrangement with the IMF and the EU, being manifest in the case of at least two of the highlighted risks: the tensions surrounding macroeconomic equilibria (as a result of giving up fiscal consolidation) and the weakening payment discipline in the economy. A risk of lower magnitude, yet related to the increase in household indebtedness, refers to property prices. The faster increase in property prices further poses a risk to the banking sector, as credit institutions’ exposures to the real estate market are substantial.